Finance

Energy prices moved sharply higher as the ongoing conflict in the Middle East continued to threaten global crude supplies. Brent crude futures held firmly above the $100 per barrel mark, while West Texas Intermediate climbed past $94, providing a significant tailwind for domestic energy producers but weighing on broader market sentiment.

The yield on the 10-year Treasury note rose to approximately 4.36% as investors weighed the impact of rising energy costs on future inflation. Short-term rates saw even more pronounced movement, with the 2-year yield surging by nearly 30 basis points as markets adjusted expectations for Federal Reserve policy through the remainder of 2026.

Digital assets faced downward pressure on Thursday, with the CoinDesk 20 Index falling over 3% as all constituent assets traded in the red. Bitcoin slipped toward the $69,000 level, while major altcoins such as Ethereum, Cardano, and Aave recorded more substantial percentage losses amid a general shift away from risk-on assets.

The US government reached a $1 billion agreement with TotalEnergies to cancel major offshore wind projects on the East Coast, signaling a significant pivot in federal energy priorities. Under the deal, the French energy giant will shift its focus toward fossil fuel development, including investments in US oil and gas production and a Texas-based liquefied natural gas plant.

Analysts remain bullish on long-term technology valuations, with consensus estimates for 2026 earnings growth in the sector rising to over 42%. While current geopolitical risks remain a headwind, major players like Meta Platforms have demonstrated resilience, recently exceeding quarterly earnings expectations and initiating inaugural dividend payments.