Oil rises to $111 after attack on UAE nuclear plant
Business
Oil prices shot up to $111 a barrel after an attack on a United Arab Emirates nuclear plant, as tensions in the Middle East put global markets on edge.
The jump was driven by worries about inflation and uncertainty over U.S.-Iran talks, which have been stalled for weeks.
Prices eased slightly after Iran responded to a new US peace proposal.
US and UK bond yields surge
The conflict's ripple effect hit markets worldwide: US and UK government bond yields rose to their highest levels in over a year and an 18-year high, respectively, while stock indexes in Europe fell, while Asian markets were mixed.
Investors are clearly anxious, highlighting how quickly events in the Middle East can shake up economies everywhere.