Brent Crude Oil Near $92 Puts Nvidia, Bitcoin in Focus Amid Rising Inflation Fears
The Brent crude oil price has settled at $92.17 per barrel following an announcement from the Trump administration about possible secondary sanctions against countries doing business with Iran.
This development has not eased concerns about inflation and interest rates, as the oil price remains close to this level, keeping headline inflation and interest-rate expectations elevated.
Nvidia's stock fell 2.9% on August 24, while Micron Technology dropped 5.8%, and Broadcom decreased by 2.6%. These semiconductor stocks are being pressured due to rising real yields, which reduce the present value of assets with future adoption upside.
The Iran conflict has complicated the safe-haven narrative around Bitcoin, unlike gold, which climbed to a three-month high as a weaker dollar and Treasury buyback speculation drew technical buyers.