July 8, 2026 9:23 AM
Oil climbs, bonds slide on Mideast hostilities
Oil prices rose and bonds were sold on Wednesday as renewed fighting in the Middle East and U.S. sanctions on Iranian oil threatened the ceasefire, while stocks took a breather as the record-breaking AI rally starts to run short on momentum. Brent crude futures were up 2% to $75.60 a barrel, which is a long way below war peaks of above $120 but enough to wobble the bond market by raising inflation risks, particularly since months of conflict have drawn down global inventories. "Obviously the m...