Oil Surge and Bond Yields Rattle Markets as ASX Futures Point to Modest Gains

Oil prices are flashing amber again, with Brent crude briefly spiking to $US99.46 per barrel before settling at $US97.05 — a stunning 35% surge since early July driven by escalating Middle East conflict. This rally, coupled with rising US bond yields, pressured Wall Street overnight, though Australian futures suggest the ASX 200 will open up 0.2% to 8926. The key concern: this isn't just a geopolitical blip but a structural supply squeeze threatening to...