- Brent crude rose as much as 3.29% to $107.75 a barrel as optimism faded on possible progress in US-Iran talks.
- Donald Trump rejected Iran's peace proposal but expects US negotiators to engage in more talks this week.
- Middle East conflict and global inflation worries pushed US 10-year Treasury yield up 3 basis points to 5.209% and UK 10-year gilt up 4 basis points to 5.403%.
Quotes
“Brent crude, the international benchmark for oil prices, rose by as much as 3.29% this morning to $107.75 a barrel.”
“Donald Trump said on Saturday he rejected the plan, but told Axios in a phone interview on Sunday that he expected US negotiators to engage in more talks this week”
“Worries around continued conflict in the Middle East – and the impact it can have on global inflation – are growing in the bond market too.”
“US treasury yields are up, with the 10-year up 3 basis points to 5.209%.”