Finance

Brent crude climbed toward $100 a barrel following reported militant attacks on shipping vessels in the Red Sea and widening geopolitical tensions involving the United States and Iran. The escalating hostilities have threatened critical maritime checkpoints, fostering market defensiveness and exacerbating long-term inflation fears.

The 10-year U.S. Treasury yield topped 4.7%, moving near its highest marks of 2026 as surging energy markets forced a reassessment of interest rate trajectories. This persistent selloff in government bonds has continuously elevated borrowing costs, which in turn influences corporate credit markets and long-term consumer mortgage rates.

Futures for essential crops like wheat, corn, and soybeans have experienced a sharp rally, with wheat hitting its highest value in three years. Global supplies remain heavily pressured by ongoing infrastructure attacks in Europe's Black Sea corridor, restricted fertilizer transit through global shipping straits, and pervasive international heat waves.