U.S. Treasury yields rose in Asian trade on Wednesday as investors awaited the release of minutes from the Federal Reserve's September meeting, while oil prices edged higher.

The Fed raised interest rates by 25 basis points in September, bringing the fed-funds target range to 3.75%-4.00%. Market expectations for another hike in October have fluctuated since then. Markets currently assign a 22% probability to a rate increase this month, down sharply from around 70% at the beginning of last week, according to LSEG data.

"Treasurys are leading the moves following the rise in oil prices and 10-year Bunds look set to open above 3.50% again this morning," said Erik Liem, rates strategist at Commerzbank, in a note.

The 10-year Treasury yield rose 4 basis points to 5.310%, while the 30-year yield increased 4.6 basis points to 5.686%, according to Tradeweb. Both remained close to their multidecade highs. The two-year Treasury yield was up 2.1 basis points at 4.811%.

Danske Bank analysts see a risk of further pressure on long-dated Treasurys.

"The pressure is on the long end of the U.S. Treasury curve given not only supply of Treasurys but also from the hyperscalers," said Jens Peter Sorensen, chief analyst at Danske, in a note. "We do see the risk of 10-year and 30-year Treasurys hitting 6% as investors demand a higher premium for the long end," he said.