Finance

Oil prices retreated to their lowest levels since the onset of the U.S.-Iran conflict as progress in peace negotiations led to increased tanker traffic through the Strait of Hormuz. International benchmark Brent crude fell toward $74 per barrel, a move that helped lower Treasury yields and reduce some inflationary pressure on the broader market.

The Federal Reserve is scheduled to release the results of its annual bank stress tests today, June 24, evaluating how 32 major financial institutions would handle a severe global recession. Markets remain sensitive to the central bank's next moves, especially with the Personal Consumption Expenditures price index release approaching on Thursday, which is expected to show inflation remains well above the 2% target.

Cryptocurrencies continued to struggle alongside other risk assets, with Bitcoin trading near $62,000, its lowest level in approximately two weeks. Broad bearish sentiment persists as digital assets face headwinds from a strong dollar and a potential shift in Federal Reserve policy toward additional interest rate hikes later this year.