Oil Surges to $117/bbl, Lifting Yields and Weighing on Risk Assets

Brent oil has rocketed to near $117/bbl, fueling higher bond yields (German 10y at 3.09%) and modest losses in equities like EuroStoxx50 and Nasdaq, as highlighted in latest KBC commentary. This follows a modest spike to $108/bbl then pullback to $107.3 on April 27 amid an Iranian proposal report, with markets now cautious ahead of central bank decisions. The Fed is expected to hold at 3.50-3.75%, BoC at 2.25%, while ECB data looms; oil's climb amplifies inflation risks, supporting DXY at 98.85 and prompting volatility across assets.