Oil Prices Top $100, Pushing Up Borrowing Costs

Brent crude oil topped $100 per barrel on July 23, 2026, jumping 6.28% in one day, per Trading Economics. That pushed the 10-year Treasury yield — a benchmark for loans like mortgages — to 4.70%, its highest in over a year. Rising oil signals pricier goods, so investors demand higher returns on government bonds.