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Energy Volatility Tests Market Resilience as Oil Swings on Geopolitical Stalemate

Crude oil prices whipsawed this week as US and Iran failed to reach agreement on a breakthrough, sending Brent above $100 per barrel before retreating. The volatility underscores growing concerns about energy costs rippling through consumer and industrial sectors. Executives at Cummins and Pitney Bowes flagged mounting pressure from elevated fuel expenses on their operating margins. Meanwhile, technology stocks provided a counterweight to energy weakness, with strong earnings reports driving broader market gains. Bond yields edged higher amid the oil surge, though strategists note that robust corporate earnings and relatively light investor positioning continue to support equity valuations despite interest rate headwinds. Nigeria's assets rallied on optimism surrounding the government's economic reform trajectory and higher crude revenues.