The Iran war is now moving decisively from commodity markets into sovereign bond markets, and that makes the crisis much harder for investors and governments to treat as temporary noise. Government bonds from the United States, Japan and the euro zone sold off again on Monday as the renewed rise in oil prices reinforced fears that the energy shock will feed into broader inflation and force central banks back toward rate hikes.

The U.S. 10-year Treasury yield rose as high as 4.631%, its highest since February 2025, while the two-year yield touched a 14-month high and the 30-year yield climbed to 5.159%. The shift in rate expectations is the most important part of the story. Before the war, investors were still looking for rate cuts this year.

Middle Eastern countries are rapidly expanding their footprint in Africa’s energy sector, with recent deals and expressions of interest totaling at least $6 billion. This surge in activity underscores the region’s broader strategy to diversify its energy investments globally and deepen economic ties with the African continent.

Among the most prominent developments is Abu Dhabi National Oil Company (Adnoc) being shortlisted to acquire Shell’s downstream assets in South Africa, valued at around $1 billion. This is part of a broader push by the United Arab Emirates (UAE) to invest across a wide spectrum of African energy ventures, from oil and gas to renewables.

Argentina, a significant player in the global lithium market and the fastest-growing producer of lithium, is exploring the possibility of imposing a new tax on lithium producers and mandating a reserved portion of production for national battery projects. The goal behind these potential measures is to tap into the profits of lithium companies and utilize those funds for crucial infrastructure development.