Finance

International oil benchmarks extended their recent gains, with Brent crude briefly approaching $100 per barrel following military developments in the Middle East, including actions involving U.S. and Iranian forces. The escalation has heightened concerns over potential long-term distribution constraints. Analysts note that these developments come alongside trade strains, including new retaliatory tariffs taking effect between Canada and the United States.

Digital assets edged downward, with Bitcoin slipping to around $78,400 and Ethereum also posting minor losses. The downward pressure stems from a stronger macroeconomic headwind as investors raise the likelihood of a central bank rate hike to roughly 60%. Because higher interest rates increase the appeal of yielding assets, cryptocurrency demand has faced near-term resistance.

The yield on the benchmark 10-year U.S. Treasury note advanced to approximately 4.8%, reaching some of its highest thresholds in recent years. This movement reflects changing market expectations for monetary policy after strong employment figures fueled speculation about future interest rate paths. Fixed-income investors are now heavily focused on the consumer price index report scheduled for release later this week.