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Traders’ Bets on Higher US Rates Face Crucial Inflation Data

(Bloomberg) -- Traders who have been piling into wagers for higher US yields ever since last week’s jobs report will see their convictions tested with the latest inflation readings. Most Read from BloombergSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterWhy American Mobility Ground to a HaltThe Forgotten French Architect Who Rebuilt MarseilleIn New Orleans, an Aging Dome Tries to Stay SuperTreasury yields remained higher on Wednesday after steadily climbing in the wake of data Friday

US sanctions strand Iran, Russia oil on tankers, driving up crude costs

The amount of Russian and Iranian oil held on ships has hit multi-month highs as harsher U.S. sanctions reduced the number of buyers, leaving fewer tankers available to deliver cargoes and driving up crude costs, trade sources and analysts said. Washington has imposed multiple rounds of sanctions on ships and entities dealing with oil from Iran and Russia since October, disrupting trade with major importers China and India. U.S. President Donald Trump last week restored his "maximum pressure" campaign on Iran that includes efforts to drive its oil exports down to zero in order to stop Tehran from obtaining a nuclear weapon.