US WTI crude closed in the $102 range amid turmoil in the Middle East, while the Tokyo market was extremely volatile. The yield on newly issued 10-year government bonds, a gauge of long-term interest rates, rose into the 3% range.
WTI, the benchmark for New York crude oil futures, closed at $102.48 per barrel, trading near a four-month high amid turmoil in the Middle East.
In response, the Tokyo market was extremely volatile on the 11th, with concerns over accelerating inflation and other factors heightening market tensions.
Selling in newly issued 10-year government bonds, a benchmark for long-term interest rates, intensified that day, sending the yield sharply higher into the 3% range.
The further deterioration in the situation in the Middle East was cited as the backdrop to the rise in prices, with developments in the energy and interest-rate markets spreading simultaneously.