Brent crude opened above $91 a barrel on Tuesday, its highest since early August, extending gains after a 60-day US-Iran ceasefire expired without renewal. The benchmark rose nearly 1 percent to $91.76, marking a third consecutive session of advances as Maritime Trade Operations reported a projectile struck an unidentified vessel exiting the Strait of Hormuz.
European equities fell broadly, with the Stoxx 600 sliding 0.5 percent, while sovereign bond yields surged on expectations that central banks may tighten policy to counter energy-driven inflation. German 10-year Bund yields climbed to 3.25 percent and UK gilts approached 5.1 percent, with French 30-year rates hitting their highest since 2008.
In the US, Treasury prices ended firmly lower on Monday, pushing the benchmark 10-year yield to 4.724 percent. The New York Fed's business conditions index rose to 20.6 in August, while President Donald Trump threatened to bomb Oman in a television interview.