Finance

International and domestic energy benchmarks posted sharp losses at the end of the trading week. West Texas Intermediate futures sank below $93 per barrel, while Brent crude dropped under $98 per barrel during late trading. The pullback was driven by reports that Iranian diplomats have proposed a brief truce framework to de-escalate regional hostilities.

The bond market faced intense pressure earlier in the week, pushing the 10-year Treasury yield to its highest point since 2007. Selling eased slightly by Friday afternoon, settling around 5.18%. However, long-term yields remain elevated as a University of Michigan consumer survey revealed Americans are anticipating an accelerated inflation rate of 4.6% for the coming year.

Digital asset exchange Bitget suspended user withdrawals after hackers siphoned roughly $350 million from the platform using spoofed transactional data. Despite the massive security breach, the exchange noted its internal protection fund will absorb the losses to shield customers. Meanwhile, the broader crypto market remained resilient, with Bitcoin holding steady above the $84,000 threshold.