Finance

Global crude benchmarks surged again on Thursday, with Brent rising nearly 4% to move above $106 per barrel. The rally is driven by the continued curtailment of shipping through the Strait of Hormuz and mounting concerns that the conflict could result in a long-term energy crisis.

The OECD sharply revised its 2026 inflation outlook for the United States, raising it from 3% to 4.2% due to persistent energy price shocks. This adjustment reflects a broader global trend where rising commodity costs are expected to force central banks to maintain higher interest rates for longer than previously anticipated.

Shares of major memory chip makers including Micron and Samsung faced selling pressure following Google's announcement of a new 'Turboquant' AI technique designed to reduce hardware memory requirements. While some analysts view the development as evolutionary, the news triggered profit-taking in a sector that has seen triple-digit gains over the past year.

The cryptocurrency market remained range-bound on Thursday, with Bitcoin hovering around the $71,000 level despite broader macroeconomic volatility. High institutional de-risking and significant spot ETF outflows have tempered bullish sentiment, even as some technical analysts point to a potential breakout pattern forming on shorter timeframes.

The 10-year U.S. Treasury yield rose toward 4.38% as investors reacted to firm inflation data and the fading likelihood of multiple interest rate cuts in 2026. Current market expectations suggest the Federal Reserve may only implement one rate cut this year, staying within the 3.50% to 3.75% target range.