Oil Climbs as US Strikes on Iran, Eco Weekahead

Business and finance news from the Asia-Pacific.

For analysis on the week ahead, highlighted by the US-consumer price report and two days of testimony from Fed Chair Kevin Warsh, Bloomberg TV Host Shery Ahn spoke to Frederic Neumann, Chief Asia Economist at HSBC.

Oil rose and Treasuries fell after the US launched another round of strikes against Iran, reviving concern that higher energy prices will keep inflation elevated and interest rates higher for longer. Brent crude climbed 4.4% to $79.35 a barrel as conflicting claims over the status of the Strait of Hormuz fueled speculation about potential supply disruptions. Treasuries dropped across the curve with the yield on the rate-sensitive two-year note climbing three basis points to 4.24%, the highest since February 2025. Australian and Japanese sovereign bonds also fell, while the dollar strengthened against all of its Group-of-10 peers. For more on this, Bloomberg TV Host Avril Hong talked to Mark Cranfield, Bloomberg Strategist.

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