The 10-year US Treasury yield reached 5.02 per cent on Tuesday, marking its highest level since 2007 amid rising oil prices. Global bond yields are also climbing, with Germany’s 10-year yield hitting 3.554 per cent, as markets react to ongoing geopolitical tensions affecting energy supply.

Bahrain has announced it will not attend a proposed meeting in Oman with Iran and other regional nations regarding shipping safety in the Strait of Hormuz. The Bahraini Foreign Ministry cited concerns over regional security and reiterated its readiness for dialogue only after restoration of diplomatic relations with Iran, severed in 2016.

The United Arab Emirates intercepted a drone from Iran over its territorial waters, denying claims of an attack on the Al Menhad airbase. The incident follows renewed hostilities between the US and Iran, with Iran’s army stating that multiple drones targeted US assets in the region.

US oil companies reported significant profits amid rising prices due to the ongoing conflict with Iran, with Brent crude increasing approximately 22% since February. However, disruptions in the Gulf region have jeopardised their investments, potentially limiting future oil and gas supply from the area.

Aston Villa have secured Senegal striker Nicolas Jackson from Chelsea for a reported club-record fee of £65 million. Jackson replaces Ollie Watkins, whose transfer to Al Hilal is nearing completion. The 25-year-old has signed a five-year deal and is reuniting with manager Unai Emery.

Israeli fighter jets attacked Abu al-Duhur airbase in northwestern Syria, prompting condemnation from the US, UK, and United Nations. Israel cited Turkish military movements as justification; however, US intelligence found no supporting evidence. This incident highlights growing tensions between Turkey and Israel amid changing regional dynamics.