Sep 7, 2026 – 8.00pmEconomists and strategists warn that equity markets are teetering on the edge of a correction as the price of oil pushes back up to $US100 a barrel and bond yields trade near the highest levels since the global financial crisis amid renewed tensions in the Middle East.The oil price hit $US97 a barrel on Monday after Iran targeted three oil tankers in the Strait of Hormuz – through which one-fifth of the world’s energy supply is usually shipped – as well as US-linked ships in retaliation for American attacks on its vessels over the weekend.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
‘Risk of a correction is high’ after oil surge, bonds meltdown
The oil price is racing back towards $US100 a barrel and bond yields are at multi-decade highs but the ASX and Wall Street have barely budged.
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