Oil prices surge as US Treasury announces debt buyback plan

In the United States, oil prices rose as global markets reacted to the US Treasury's announcement of a debt buyback plan. This plan aims to stabilize bond markets and comes amid ongoing tensions with Iran, which have kept oil supply concerns high. Brent crude reached $91.90 a barrel, while US benchmark crude hit $84.57. The Treasury's move to double its buyback operations is seen as a response to rising bond yields and aims to manage the government's increasing debt.