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Oil and Bond Yields Rise Amid Extended Iran Conflict

Energy and bond markets react as President Trump indicates the Iran conflict will continue past midterm elections. Crude oil hits multi-month highs and Treasury yields climb toward five percent ahead of inflation data and an expected European Central Bank rate hike.

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FILE PHOTO: Drone view of oil tanker HELGA berthed at one of Iraq's southern offshore oil terminals near Basra, as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026. REUTERS/Mohammed Aty//File Photo

United States President Donald Trump warned that the conflict with Iran will extend past November's midterm elections, pushing West Texas Oil above $100 per barrel on Wednesday. The remarks accompanied the most intense attacks on Gulf shipping since hostilities began six months ago.
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