Oil climbs as bond yields hit 19-year high, pressuring stocks

euronews.com —

Oil prices rose Tuesday as uncertainty over US-Iran talks fueled inflation fears, with Brent crude trading above $107 a barrel. Government bond yields hit multi-year highs, pressuring global stock markets. Brent gained nearly 2% after Donald Trump rejected Iran's seven-day truce offer, dashing hopes of reopening the Strait of Hormuz. The US 10-year Treasury yield exceeded 5.27%, its highest in 19 years, as expectations grew for another Federal Reserve rate hike. Asian stocks fell, with Japan's Nikkei losing 1.3%, while Australia's central bank raised rates to a 15-year high of 4.6%. Investors await US inflation and jobs data this week for further Fed direction.


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