Oil prices climb, bond selloff rattles global markets

Oil prices rose Tuesday as uncertainty over US-Iran talks fueled inflation fears, while government bond yields hit multi-year highs, pressuring stocks. Brent crude gained nearly 2% to above $107 a barrel, up from about $72 in late February. US crude rose 1.8% to over $94. Hopes for easing Middle East tensions faded after Donald Trump rejected Iran's seven-day truce offer. The 10-year US Treasury yield surpassed 5.27%, a 19-year high, while Germany's 10-year yield reached 3.62%. Rising yields increase borrowing costs across economies and make stocks less attractive. Australia's central bank raised rates to 4.6%, a 15-year high. Investors await key US inflation and employment data this week, with markets pricing in another Fed rate hike in late October.