Brent prices jumped above $105. Yields on 30-year government bonds hit their highest level since 2004.

The price of Brent crude oil jumped to an intraday high of $106.5 per barrel on September 24, before stabilizing at around $105. Meanwhile, U.S. WTI rose by more than 2% and is trading at $94.25. Oil prices have moved in tandem with Treasury yields in recent weeks, according to The Wall Street Journal. On Thursday, yields on long-term—30-year—Treasuries reached their highest level since 2004.

John Williams, president of the Federal Reserve Bank of New York, speaking at an event in London about U.S. monetary policy, said it is “reasonable” to expect another interest rate hike this year, according to MarketWatch. Williams’s vote on the Federal Open Market Committee (FOMC) is one of the most influential, the publication explains. He attributed the September rate hike not so much to a sudden change in the data as to an assessment of how the situation had developed in the past.

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