US-Iran Tensions Send Oil Prices Soaring to $90/Barrel

Global markets are on high alert as tensions between the US and Iran escalate. Oil prices have surged, with Brent crude trading above $90 per barrel, while global bond yields have also risen amid expectations of a potential interest rate hike by the Federal Reserve.

The 10-year US Treasury yield has reached its highest level since early 2025 at 4.75%, and is expected to continue climbing. Japan's 10-year JGB has clocked in at 3% for the first time since late 1996, a sign of increasing bond yields globally.

The rise in oil prices is largely due to concerns over potential further US-Iranian conflict. US President Trump has indicated that the US will take decisive action against Iran, leading to increased uncertainty and volatility in the markets.