Brent oil back at $76 | Wallstreet ends lower | US yields rise| Opening Bell
Global markets turned cautious after the United States intensified pressure on Iran following fresh attacks on three commercial ships in the Strait of Hormuz. The US Treasury Department revoked the temporary license that had allowed Iran to sell oil, while Washington also carried out military strikes against Iranian targets, marking one of the biggest escalations since the April ceasefire. A US official said the latest strikes were four to five times larger than previous operations, raising concerns over a broader regional conflict.
The geopolitical tensions pushed Brent crude prices up 2% to around $75 per barrel, reflecting fears of potential disruptions to global oil supplies through the vital Strait of Hormuz. Asian equity markets traded lower, with Japan’s Nikkei and South Korea’s Kospi falling 0.5% to 0.7%. US markets also ended Tuesday in the red, with the Dow Jones, S&P 500, and Nasdaq declining between 0.25% and 1.2%.
In the bond market, the US 30-year Treasury yield climbed above 5%, while the 10-year yield hovered around 4.5%, signaling persistent concerns over inflation and higher interest rates. The US dollar edged higher as investors awaited the release of the Federal Open Market Committee (FOMC) minutes for further clues on the Federal Reserve’s policy outlook. Meanwhile, gold prices slipped 0.6% to $4,141.16 per ounce despite the geopolitical uncertainty, and GIFT Nifty signaled a weak opening for Indian equities amid the cautious global sentiment.
Click Here For The Original Source.
