London (AFP) – Global stocks slumped and oil prices rose Friday as talks between the United States and China failed to deliver progress on reopening the Strait of Hormuz, rekindling worries of persistent inflation pressures that could derail economic growth.
Issued on: 15/05/2026 - 17:56
Oil prices rose three percent, with the international benchmark Brent crude contract at nearly $109 a barrel.
Rising crude futures also pushed up government bond yields, including in Britain, where Prime Minister Keir Starmer faced fresh threats to his leadership.
The yield on 30-year UK government bonds reached 5.869 percent, surpassing Tuesday's mark to hit its highest level since 1998, as investors demanded higher returns to reflect growing inflation risks.
