Oil Prices Push Higher Amid Inflation Fears Ahead of ECB Decision

The European morning session brought little respite from the market's focus on oil prices and bond yields, which continue to push higher.

Brent crude oil rose by 1.2% to $102.41, while WTI crude oil increased by 1.5% to $97.46, leading to a further rise in Treasury yields, with the 10-year yield up 4 bps to 4.877%.

The increase in oil prices and yields has kept broader markets on edge, particularly as inflation worries loom ahead of the ECB decision later today.