Energy Markets
Oil prices rise, bonds fall on Mideast hostilities
On Wednesday, oil prices rose and bonds were sold as U.S. sanctions against Iranian 'oil' threatened to disrupt the ceasefire. Stocks also took a pause as the AI rally that has been a record-breaker?starts to lose momentum. Brent crude futures rose 2% to $75.60 per barrel. This is still a far cry from the wartime peaks above $120, but it's enough to cause a stir in the bond markets by increasing inflation risks. Jason Wong is a senior strategist with BNZ Wellington. He said: "Obviously, the market does not like these attacks... But it's still not in full-blown panic mode."...