Treasury yields climb higher as investors monitor Iran war and soaring oil price

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U.S. Treasury yields climbed higher on Monday as oil prices soared past $100 a barrel and increased inflation fears among investors.

At 6 a.m. ET, the benchmark 10-year Treasury yields rose over 3 basis points to 4.17%, and the 30-year Treasury bond added 3 basis points to yield 4.788%. The 2-year Treasury note yield was over 4 basis points higher to 3.598%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Investors are watching oil prices, which jumped more than 25% earlier to above $110 a barrel, fueling concerns about rising energy costs and an inflation spike.