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US Airstrikes on Iran Drive Oil Prices Higher as Global Bond Yields Reach Multi-Year Highs

A new round of U.S. military strikes on Iran has pushed global oil prices higher, fueling concerns over potential inflation and a reescalation of Middle East tensions. West Texas Intermediate crude rose to approximately $90 per barrel, while Brent crude advanced toward $95 per barrel. The strikes, launched by the U.S. Central Command, targeted Iranian sites tied to the Revolutionary Guard Corps and were taken in retaliation for attempted Iranian strikes on U.S. allies and the placement of mines in the Strait of Hormuz. Simultaneously, global bond markets experienced a significant sell-off, pushing yields to multi-year highs. The 10-year U.S. Treasury yield reached its highest level since early 2025, while the 30-year yield hovered near a two-decade high. These rising yields, combined with with volatile energy prices, contributed to a downward trend in major stock indices. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw declines as investors reacted to the bond market's ascent and the potential for a more conflict-heavy situation in the Persian Gulf. President Trump stated that the U.S. strikes were a justified response to Iranian actions and warned that a more severe retaliation would follow if Iran responded. The administration announced that the U.S. military would continue to monitor the conflict as energy prices remain elevated.

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