Oil Rises as Hormuz Tensions Broaden Conflicts

Oil prices fluctuated and trended higher as the US-Iran conflict intensified and broader Middle East tensions kept supply risks in focus, with occasional dips but an overall ascent supported by potential disruptions in Strait of Hormuz. Reports described renewed US strikes on Iran and Iranian responses, alongside regional tensions involving Israel and Lebanon, underscoring persistent geopolitical risk to energy markets. President Trump signaled that any extended blockade or renewed attacks would be short-lived, while markets weighed signs of easing supply through the Strait and ongoing geopolitical noise. In financial markets, U.S. Treasuries and global yields climbed to multi-year or multi-decade highs driven by higher energy prices and inflation fears, with tech debt and AI funding contributing to bond-market pressure. Some regions, like Canada, moved to shield consumers from price shocks through policy measures such as extending a fuel tax pause, illustrating policy responses to volatile energy markets amid the conflict.