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Brent crude rises above $91 amid intensified Iran rhetoric
The 30-year U.S. yield jumped to its highest in 19 years as long-dated borrowing fears returned alongside the oil-price surge.
Yahoo Finance reports that energy prices climbed after rhetoric from Iran escalated, with Brent crude reaching $91 per barrel overnight as Iranian officials said they could move to a fully offensive mode and keep a tight grip on the Strait of Hormuz.
The outlet says U.S. President Donald Trump took a tougher stance toward Tehran, ruling out an extension of a 60-day memorandum of understanding agreed in June, and warning of potential consequences involving ally Oman if talks interfere with U.S. war aims.
According to Yahoo Finance, markets are assessing the prospect that a Gulf energy disruption could persist for weeks or even months, adding to concerns that inflation will stay elevated into winter.
The same report notes that long-dated government bond yields turned higher, with the 30-year U.S. yield hitting a 19-year high, even as Fed rate hike expectations had been reduced after recent softer economic and inflation data.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%