{"id":224285,"date":"2026-09-15T13:01:30","date_gmt":"2026-09-15T13:01:30","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/10-year-treasury-yield-tops-5-as-oil-surges-and-diesel-hits-all-time-high-nbc-news\/"},"modified":"2026-09-15T13:01:30","modified_gmt":"2026-09-15T13:01:30","slug":"10-year-treasury-yield-tops-5-as-oil-surges-and-diesel-hits-all-time-high-nbc-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/10-year-treasury-yield-tops-5-as-oil-surges-and-diesel-hits-all-time-high-nbc-news\/","title":{"rendered":"10-year Treasury yield tops 5% as oil surges and diesel hits all-time high – NBC News"},"content":{"rendered":"

Morning Rundown: How an AI slowdown could affect the economy, Putin ally paid for Trump Jr. wedding party, and actor makes Emmy history<\/a><\/span><\/span><\/a><\/p>\n

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The 10-year U.S. Treasury yield briefly topped 5% Monday for the first time since 2023 as the price of oil surged and the nationwide average cost of diesel fuel hit an all-time high.
Fears about those higher fuel prices feeding overall inflation are helping drive up yields. The Federal Reserve is widely expected to hike interest rates Wednesday for the first time since 2023. As of Monday, market odds for a hike were greater than 90%.
Longer-term bond yields, such as the 30-year Treasury bonds, rose to more than 5.37% on Monday, continuing to push to their highest levels since 2007. Consumer interest rates, such as those for mortgages, typically follow moves in bond yields.
Fuel prices shifted after Saudi Arabia shut a critical pipeline<\/a> and talks about the future of the Strait of Hormuz were postponed.
The international oil benchmark, Brent crude, surged to more than $109 a barrel, while U.S. crude oil nearly hit $105.
By the end of the day, the increase had moderated. Brent closed the day up 1%, at $105.68 per barrel, and U.S. crude ended the trading session up 1.3%, at $101.39.
The East-West Pipeline, a key route for energy supplies, became even more critical because of the stalemate in the Strait of Hormuz, where vessel traffic has barely reached double digits in recent days.
U.S. Energy Secretary Chris Wright said Monday that he did not have an exact time frame for when the pipeline may restart but that he was in contact with his Saudi counterpart and believed it would be \u201cvery soon.\u201d
\u201cI might have more of a time frame tomorrow,\u201d he told Bloomberg Television. \u201cThey\u2019ve been very carefully assessing what the damage was, what needs to be done, and I think more clarity on that will come out very soon.\u201d
On Friday, the Saudi Energy Ministry said the pipeline was shut down \u201cas a precautionary measure.\u201d It did not say when the pipeline would be operational again. The attacks came as the Iran-backed Houthi rebels in Yemen made sweeping gains that tightened their grip on Bab el Mandeb, another critical waterway.
But the pipeline could be \u201cout of service for weeks as the damage is repaired,\u201d The Associated Press reported later Monday, citing two regional officials.
Adding to investors\u2019 worries, a meeting between Iran and Persian Gulf countries about Hormuz was postponed Sunday afternoon. That meeting, set for Monday, was delayed \u201cin the interests of consensus,\u201d Oman\u2019s foreign minister wrote on X.
Tehran said the meeting was postponed at the request of Riyadh.
On Monday, the Saudi state-run news agency said Crown Prince Mohammed bin Salman met<\/a> with Adm. Brad Cooper, the commander of U.S. Central Command, in Jeddah.
Traffic through Hormuz remains at just a small fraction of pre-Iran war levels. On Sunday, just 14 vessels passed through the strait, and the numbers were only 12 Saturday, 11 Friday and nine Thursday, according to data from MarineTraffic.
With crude oil prices rising as a result of those disruptions, gasoline prices are, too. On Monday, the national average price of unleaded regular gas rose to $4.31 per gallon, according to AAA.
The national average price of regular gas has risen more than 45% since the U.S. and Israel launched the Iran war. The price of U.S. crude oil has soared more than 50% since the war started Feb. 28.
Since the start of the year, oil prices have risen more than 80%.
On top of that, the price of diesel fuel continues to set all-time highs. The national average price of diesel rose to $6.23 per gallon Monday, AAA also reported.
Diesel, which is used in everything from trucking to boat transportation to trains, has become a particular focus for economists who say it could cause almost everything to cost more.
\u201cThe cost of diesel gets into just about everything,\u201d KPMG chief economist Diane Swonk said in a recent interview<\/a> with NBC News.
\u201cFrom running a farm … [to the] cost of food, but also everything across the economy that\u2019s shipped,\u201d she said. When diesel prices rise, everything \u201cgets that extra fee tacked onto it.\u201d
Swonk predicted that the high cost of diesel will be an \u201cinflationary problem\u201d for months to come.
On Sunday, President Donald Trump sought to act on the issue by urging Ukraine to halt attacks on Russian energy targets<\/a>.
Trump told reporters at the Irish Open in Doonbeg, Ireland, that he recently spoke with Ukrainian President Volodymyr Zelenskyy and asked him to stop targeting Russia\u2019s oil refining infrastructure, particularly because of what is happening with the soaring price of diesel fuel.
\u201cMr. Zelenskyy has to do one thing,\u201d Trump said. \u201cHe has to stop knocking out diesel fuel in Russia.\u201d
\u201cLet him go after targets, but not diesel fuel, because he\u2019s causing a shortage of diesel fuel,\u201d Trump continued. \u201cDon\u2019t hit diesel fuel, because that\u2019s hurting the world.\u201d
ING commodities analysts said Monday: \u201cThe growing scale and intensity of Ukrainian attacks on Russian refineries this year have pushed Moscow to ban diesel exports. This has only tightened global markets, following Persian Gulf disruptions.\u201d
Russia\u2019s ban on diesel exports is set to expire at the end of September, but \u201cclearly, there is the potential for further extensions,\u201d ING\u2019s team said.
After diesel prices fell as low as $4.77 per gallon in late June, new escalations between Ukraine and Russia have driven them 30% higher.
Since the start of the year, they have soared 75%.
Steve Kopack is a senior reporter at NBC News covering business and the economy.
© 2026 NBCUniversal Media, LLC<\/p>\n

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