Oil Prices Rise as US-Iran Deal Hopes Fade

Oil prices continued to rise, with Brent crude above $91, as hopes for a US-Iran agreement to reopen the Strait of Hormuz diminished following the expiration of a truce deadline. Donald Trump stated he would not extend a 60-day truce and described Iranian officials as unwilling to make a necessary deal.

Jared Kushner, Trump's son-in-law and envoy, indicated ongoing but distrustful conversations between the US and Iran. Treasury Secretary Scott Bessent warned of unprecedented economic isolation for Tehran, with new measures expected soon.

The situation has contributed to rising long-term Treasury yields, the highest since June 2007, amid concerns over inflation and geopolitical risks. Asian stock markets mostly fell, with Tokyo down over two percent, while some cities like Hong Kong and Shanghai saw gains.

Investors are increasingly uneasy as geopolitical tensions, oil volatility, and economic pressures converge.