Marcus by Goldman Sachs Offers 4% APY 14-Month CD as Brent Crude Falls 3.1%
GS•Goldman Sachs’s online bank Marcus is offering a 14-month CD at a market-leading 4% APY. Brent crude plummeted as much as 3.1% to below $78 per barrel after a US–Iran interim agreement reopened the Strait of Hormuz, pressuring energy trading revenue.
1. Marcus by Goldman Sachs Offers Market-Leading CD Rate
Marcus by Goldman Sachs has introduced a 14-month certificate of deposit at 4% APY, the highest rate available among major institutions. This move aims to attract new deposits as CD rates decline, positioning Marcus to boost its funding base amid competitive online banking offerings.
2. Strait of Hormuz Reopening Drives Oil Prices Lower
An interim US–Iran agreement signed on June 18 reopened the Strait of Hormuz, triggering a 3.1% drop in Brent crude to under $78 per barrel. The resumption of vessel traffic could restore millions of barrels of supply and weigh on Goldman Sachs’s energy trading revenues in coming months.
