South Korean Government Bond Futures Fall on July 20 as U.S.-Iran Tensions Push Oil Prices 4.5% Higher

According to Yonhapinfomax, on July 20, South Korean government bond futures fell as escalating U.S.-Iran conflict drove crude oil prices higher. The 3-year government bond futures dropped 17 basis points to 102.72, while the 10-year contract declined 43 basis points to 104.98.

WTI crude oil August futures surged 4.48% to $82.49 per barrel on July 19, with Asian markets adding another 2% in early trading on July 20, approaching $85. The U.S. Central Command announced the start of new airstrikes against Iran on July 19, following the death of one American service member in a drone incident on July 18.