Finance

International benchmark Brent crude oil futures climbed to around $100 per barrel following news that Chinese refiners have suspended fuel exports for October to prioritize their domestic supplies. The energy market is also facing sustained pressure from a continuing diplomatic deadlock in the Middle East. President Donald Trump rejected a ceasefire proposal from Iran, keeping the critical Strait of Hormuz closed and exacerbating global energy supply anxieties.

Wall Street kicked off October with notable intraday fluctuations, as initial equity losses were erased when bond yields pulled back from their daily peaks. The tech-heavy Nasdaq Composite and the S&P 500 were buoyed by strong earnings and revenue performance from semiconductor manufacturer Micron Technology. Positive momentum from Alphabet's rollout of its newest artificial intelligence model also helped support technology shares.

Citigroup raised its 12-month price targets for Bitcoin and Ether, adjusting its projections to $113,000 and $3,028 respectively. The brokerage highlighted robust on-chain activity, stabilizing macroeconomic conditions, and a strong renewal of exchange-traded fund inflows as core drivers for the upgrade. Despite a minor daily retraction that kept Bitcoin trading in the low $80,000 range, the digital asset is tracking a highly successful quarterly run.