Oil Prices Climb Amid Hormuz Incident; US Treasury Yields Decline After PCE Report

Crude oil prices increased following reports of a missile strike on a vessel in the Strait of Hormuz, raising security concerns in the region. Meanwhile, U.S. Treasury yields fell after the May Personal Consumption Expenditure (PCE) data came in slightly below expectations, influencing Federal Reserve rate hike outlooks. Headline and core PCE inflation figures also saw modest increases.