Iranian state media reported Ghalibaf said the Strait of Hormuz will remain closed until the US lifts its oil blockade and sanctions.

The Times reports U.S. Trade Representative Greer said Trump's threat to impose 100% tariffs on the UK "is not bluster."

U.S. Treasury yields rose across the curve on Monday as renewed U.S.-Iran uncertainty lifted oil prices. The 30-year Treasury yield, typically sensitive to geopolitical risk, rose over 4 bps to 5.311%, its highest since June 2007. The 10-year yield, a benchmark for mortgages and consumer loans, climbed just over 2 bps to 4.724%. The 2-year yield, which tracks Fed policy expectations, gained just over 1 bp to 4.182%. A 60-day window tied to a U.S.-Iran peace accord expired on Monday and Iran ruled out extending it, supporting crude. Investors await this week’s Fed minutes for further clues on policy and the rate path; the Fed voted 9-3 on July 29 to keep rates at 3.50–3.75%, with three members preferring a 25-bp hike.