U.S.-Iran strikes reignite fears of a prolonged Middle East conflict as Hormuz tensions push regional oil benchmarks above $100. Rising Bond Yields Turn Oil’s Rally Into a Demand Risk - Global bond yields have surged to their highest since 2008, as rising oil prices perpetuate fears of longer-than-assumed inflation, in turn creating a cycle of lower demand further down the road. - The rally in bond yields started in earnest after new Federal Reserve chairman Kevin Walsh vowed to finally tame US inflation, currently at 3.4%, sending…