U.S. Treasury yields rose Monday as oil prices climbed and investors weighed persistent inflation risks, growing government borrowing and longer-term fiscal concerns. The 30-year Treasury yield gained more than 4 basis points to 5.311%, its highest level since June 2007. The 10-year yield rose more than 2 basis points to 4.724%, while the 2-year yield increased by more than 1 basis point to 4.182%. Bond yields move inversely to prices. West Texas Intermediate crude futures rose 2.6% to settle at $84.50 a barrel, and Brent crude gained 2.7% to $90.87, as a 60-day U.S.-Iran deadline to secure a peace deal expired and Iran ruled out an extension, according to state media. Higher energy prices have raised inflation concerns despite recent mild inflation data. Barclays attributed the increase in longer-term rates more to the U.S. budget deficit, substantial Treasury issuance, artificial-intelligence-related issuance competing for capital, and higher term premiums than to inflation alone. The Treasury Department reported last week that the monthly federal budget deficit reached its highest level in more than five years. Investors await minutes from the Federal Reserve’s July meeting, due Wednesday. The Fed held its policy rate at 3.5% to 3.75% on July 29 in a 9-3 vote, with three members favoring a 25-basis-point increase.