0733 GMT - Yields on U.K. government bonds, or gilts, climb as oil prices rise on concerns over whether a deal will be reached between the U.S. and Iran to reopen the Strait of Hormuz. Media reports say Iran's semi-official news agency Fars on Thursday released details of a draft agreement between Iran and Oman that would ban U.S. and Israeli ships from transiting the strait. Bond yields rise as the prospect of a prolonged Middle East conflict lifts oil prices and revives inflation fears. Brent crude prices rise 1.2% to $83.5 per barrel. Ten-year gilt yields advance 2.5 basis points to 4.945%, Tradeweb data show.
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