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Finance· Commodities

Brent Tops $106 And Hike Odds Reach 64% As Crypto Sells Off

A surge in Brent crude and stronger-than-expected producer-price inflation pushed long-term U.S. Treasury yields to multi-year highs and raised market odds of a Federal Reserve rate increase, while most large cryptocurrencies fell. Bitcoin traded around $77,120 as 103 of the 125 largest non-stablecoin tokens were lower on the day, and Brent rose above $106 a barrel amid reported tanker strikes in the Gulf region.

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