Bond sell-off intensifies around the world as oil prices rise above $91 a barrel, stoking inflation fears – business live
Renewed fighting in Middle East weighs on financial markets; Shein shares tumble after Hong Kong stock market debut Oil prices are heading higher after the latest escalation in the Middle East, with Brent crude now up 0.8% at $91.23 a barrel. On Monday, five commodity vessels transited the strait of Hormuz, similar to recent days but below the 10-day average of 14, according to shipping data from…
The bond sell-off is intensifying globally as oil prices surge above $91 a barrel, heightening inflation concerns. The escalation in the Middle East has caused renewed fighting, with Brent crude increasing by 0.8% to $91.23 a barrel. This rise in oil prices is a result of the latest escalation in the Middle East, with satellite tracking firms suggesting oil flowing through Hormuz is around 6m barrels a day, well below pre-conflict levels.
As global oil market buffers are becoming exhausted, US inventories are nearing minimum levels, while China's ability to keep imports low will be tested as seasonal demand picks up.
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