Government Borrowing Costs and Oil Prices Rise as Hormuz Talks Stall

The interest rates the U.S. government pays to borrow rose the week of August 10, 2026. Oil prices jumped 5% after Iran's demands hurt chances of reopening a key shipping route — the Strait of Hormuz. Treasury Secretary Bessent had said a deal was near on August 5, briefly lowering oil. Iran insisted the U.S. separately open the waterway.