U.S. Treasury prices fell on Thursday as oil prices jumped again amid rising tensions in the Middle East, with Brent crude surging to $107 a barrel. According to Sina Finance, PPI data also reinforced expectations that the Federal Reserve will raise rates at next week’s policy meeting, while a strong 30-year Treasury auction briefly slowed the decline before Treasury buyback results came in below expectations.

Short-end yields rose as much as 12 basis points after 3 p.m. in New York, with the curve flattening in a bear move and long-end yields up about 7 basis points on the day. Treasury buyback results showed the amount of 10-year to 20-year notes purchased by the Treasury was below the $6 billion maximum, and the 30-year auction’s stop-out yield was 2.7 basis points below the pre-auction trading level, with primary dealer take-up at a record low.