Finance

Global energy benchmarks Brent crude and West Texas Intermediate surged past the $100 per barrel mark this week, recording their highest levels since May. Intensifying military clashes in Yemen and shipping disruptions across the Red Sea and Strait of Hormuz have exacerbated supply anxieties. Despite a modest intraday pullback, structural risks have driven diesel prices to record highs and prompted major banking institutions to raise their long-term price targets.

Oracle witnessed a significant stock increase of over 4% to 5% following a robust first-quarter fiscal performance that surpassed consensus estimates. The cloud computing provider generated an adjusted $1.92 per share against the expected $1.74, alongside revenue of $19.35 billion. Company leadership maintained full-year capital expenditure projections, solidifying investor confidence in corporate enterprise demand.

U.S. government bond yields advanced across various maturities, reflecting heightened investor expectations of tighter monetary policy. The 2-year Treasury yield climbed to 4.596%, its highest mark since July 2024, while the 10-year yield approached 5.00%. Market participants updated the implied probability of a Federal Reserve interest rate increase next week to over 70% following the recent energy price shocks.