Finance

International oil prices surged heavily, with both West Texas Intermediate and Brent crude futures closing firmly above the $100 per barrel mark. The commodity rally stems from escalating military engagements between the United States and Iran in the Middle East, alongside localized supply disruptions out of Saudi Arabia. These persistent disruptions are generating widespread structural inflation concerns across global financial markets.

The yield on the 10-year U.S. Treasury note surged toward 4.95%, marking its highest level in several years. Traders have aggressively raised the likelihood of a quarter-percentage-point interest rate increase at the central bank's upcoming policy meeting to roughly 70%. This hawkish shift in expectations was driven by a hotter-than-expected producer price reading and persistent labor market resilience.

Precious metals experienced notable selling pressure, with spot gold breaking beneath the key psychological support level of $4,400 per troy ounce. Although bullion historically acts as an inflation hedge, its lack of yield has made it less attractive compared to climbing Treasury returns and a strengthening U.S. dollar. The metal is subsequently heading toward its third consecutive weekly loss.