According to CoinMeta, a German commercial bank stated in a research report that as hostilities between the US and Iran escalated, concerns about a prolonged disruption of supplies from the Middle East grew, leading to rising oil prices. The increase in crude oil prices sparked fears of inflation and tighter monetary policies, causing Asian government bond prices to fall. The report noted that the new round of escalation increased the risk of longer-lasting disruptions in energy transportation, reversing the market's initial optimism regarding improvements in the conflict situation over the past few weeks.