Oil above $105 revives inflation fears as long-term yields hit multi-year highs

Brent crude topped $105 a barrel after Iran threatened to expand the war, adding to worries that higher energy prices will keep inflation elevated and push the Federal Reserve to raise interest rates. The 30-year Treasury yield climbed to 5.438%, its highest since 2004, and the 2-year yield reached 4.897%, its highest since 2023.