Why is the 30-year U.S. Treasury yield nearing a 20-year high, according to the article?

The 30-year Treasury yield reached 5.28%, coming within a whisker of its highest level in almost 20 years, due to a confluence of factors: renewed tightening in energy markets (with Brent crude near $90/barrel after a 5% jump), escalating U.S.-Iran tensions over the Strait of Hormuz that threaten prolonged oil supply disruption, persistent inflation concerns ahead of a major inflation report, and market anxiety over upcoming U.S. bond sales — all of which are pushing yields higher and reining in stocks despite strong corporate earnings.

What are the key points of contention between the U.S. and Iran regarding the Strait of Hormuz, as described in the article?

The article states that Tehran demanded Washington lift sanctions, pay reparations, and allow Iran some control over the Strait of Hormuz, while the White House countered by insisting Iran pay compensation of its own and fully free up all shipping lanes — resulting in entrenched positions and dashed hopes for a near-term reopening of the Strait.