Oil above USD 90 weighs on global markets, rupee opens weaker at 96.41
Brent crude oil prices surged over 2% to exceed USD 90 a barrel, driven by escalating US-Iran tensions that disrupted oil shipments through the Strait of Hormuz. This spike in oil prices has raised concerns about inflation and negatively impacted investor sentiment, leading to declines in Asian markets. The Indian rupee opened weaker at ₹96.41 against the dollar as a result of these developments.