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Commerzbank Says Oil Prices Rise, Treasuries Range-Bound

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Brent crude prices climb toward $99 a barrel following military strikes in the Middle East, according to Commerzbank Research in a note. Treasuries trade range-bound in Asia Wednesday trading.

The United States carried out airstrikes on targets near Kharg Island, destroying five Iranian oil tankers, as the Islamic Revolutionary Guard Corps strikes a Jordanian airbase, said Commerzbank.

Japanese government bonds are seeing stronger support than US Treasuries, added Commerzbank.

The US imposes bans on a range of Canadian imports.

In Europe, Bank of England Governor Andrew Bailey warns that borrowing costs have risen sharply despite unchanged official rates, with inflation risks still tilted to the upside.

Portugal's government survives a no-confidence vote after the Socialists abstain.

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