Japan’s 20-year government bond yield rises to the highest level since 1997, moving above its January peak, according to market coverage. Multiple reports link the increase to renewed inflation pressure from higher energy costs. Both outlets point to elevated oil prices as a key driver, noting that global supply and conflict-related developments are keeping energy prices firm. One report also connects the pressure on yields to recent developments in U.S.-Iran negotiations, where the two sides reject each other’s proposals to resolve the conflict, contributing to uncertainty and sustained upward pressure on oil prices. Higher oil prices feed into expectations for inflation, which in turn pushes bond yields higher. The reports describe the yield move as a broad market reaction rather than a single-event shock, emphasizing the role of energy-driven inflation concerns in shaping bond-market pricing. Overall, the accounts portray a consistent picture: Japan’s long-end rates climb to a late-1990s high as investors factor in higher expected inflation from energy costs.