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Oil prices rose again Wednesday as U.S.-Iran hostilities boosted prospects of prolonged Middle East supply disruptions. Asian government bond yields also climbed, with higher crude adding to inflation concerns and expectations for tighter policy.
Crude climbed on growing U.S.-Iran hostilities and prospects of prolonged Middle East supply disruptions. Asian government bonds fell as higher oil prices stoked fears of higher inflation and tighter monetary policy.
Brent crude climbed toward $91 per barrel on Tuesday, extending the prior session’s gains. Renewed US-Iran hostilities raised concerns for energy flows, while Hormuz shipping risks and Russia refinery strikes added pressure via tighter refining capacity.
Crude oil climbed above $86 per barrel on Tuesday, extending the prior session’s gains. Renewed US-Iran hostilities raised concerns for energy flows, while Strait of Hormuz shipping risks persisted after a supertanker fire.