Forex
Brent Oil Surges to Two-Month High Amid US-Iran Tensions
Oil prices surged on Wednesday after new US military strikes on Iran, with Brent crude futures rising by 5.3% to $95.26 per barrel.
This marks a two-month high for Brent oil, according to ABC News Australia, and has intensified investor concerns about accelerating inflation.
The price increase of approximately $4.70 within several hours has also led to a sell-off in government bonds, pushing their yields to multi-year highs.
The yield on 10-year US government bonds rose to 4.8%, the highest level since January 2025, while the US dollar strengthened.