Oil rose after renewed fighting between the US and Iran — Iran launched a missile strike on US forces in Jordan and US and Saudi forces struck Iran-backed militias in Iraq — lifting inflation concerns and pushing UK government bond yields higher. Tradeweb data showed the UK 10-year gilt yield rose 1.2 bps to 4.969%. Investors await a Federal Reserve rate decision later and the Bank of England's decision on Thursday.

2026-07-29

Oil rose after renewed fighting between the US and Iran — Iran launched a missile strike on US forces in Jordan and US and Saudi forces struck Iran-backed militias in Iraq — lifting inflation concerns and pushing UK government bond yields higher. Tradeweb data showed the UK 10-year gilt yield rose 1.2 bps to 4.969%. Investors await a Federal Reserve rate decision later and the Bank of England's decision on Thursday.