Finance

Crude oil prices spiked over 5% following news of fresh US airstrikes and threats of further conflict in the Middle East. While broader markets retreated, the energy sector emerged as a primary gainer, led by companies such as Valero Energy and Occidental Petroleum, as concerns over global supply disruptions intensified.

The yield on the benchmark 10-year US Treasury advanced to roughly 4.57%, its highest level since late May 2026, as investors braced for potential inflationary impacts from rising energy costs. Simultaneously, the 30-year yield surpassed 5.06%, continuing a six-day streak of increases that has pressured broader market valuations.

Minutes from the Federal Reserve's June meeting released today indicate that policymakers are prepared to resume interest rate hikes if inflation remains stubbornly elevated. The documents highlighted an increasing focus on the inflationary pressures generated by the ongoing boom in artificial intelligence investment and strong business spending.