Finance

Global energy markets experienced temporary relief as West Texas Intermediate and Brent crude futures pulled back by roughly 2%. The downturn followed reports that Washington and Tehran are conducting active discussions in New York to implement a phased deal that would safely reopen the critical maritime chokepoint.

The aggressive run-up in global bond yields caught a temporary break on Friday afternoon, providing critical breathing room for risk assets. Easing oil prices and measured comments from Federal Reserve officials pulled the 10-year U.S. Treasury yield down from an intraday high of 5.22%, though it remains locked near a 19-year closing high.

Cryptocurrencies rebounded broadly as Bitcoin crossed the $85,000 threshold to touch an eight-month high, defying its historically weakest calendar month. The digital asset managed a positive monthly performance by capitalising on returning investor risk appetite and a temporary retreat in global energy costs, shrugging off a recent legislative failure in the Senate and the Federal Reserve's recent interest rate hike.