Oil prices hovered around $95 a barrel as the U.S. and Iran exchanged fresh strikes, adding to pressure on bond yields as a sell-off in sovereign debt continued in early European trading.
The sustained high price of oil comes amid increasing geopolitical tensions in the Middle East. The ongoing conflict has contributed to volatility in global markets, impacting both energy prices and the bond market.
The rout in sovereign debt has seen yields rise, reflecting increased investor caution and a move away from fixed-income securities. This trend, coupled with energy market instability, signals broader economic uncertainties being amplified by international events.