Rupee weakens as US-Iran tensions drive oil prices higher
Oil prices surged after recent US and Israeli airstrikes on Iranian military targets, pushing WTI crude up over 3.7% and Brent crude up 4%. The rise in oil prices contributed to a weakening Indian rupee, which traded around 95.33 to 95.50 per US dollar. Investors responded by shifting toward safe‑haven assets such as gold and US Treasury securities amid concerns over supply disruptions and inflationary pressure in India.
- ▪US and Israel airstrikes on Iranian targets caused WTI crude to rise to $74.07 per barrel and Brent crude to $79.06 per barrel.
- ▪The Indian rupee weakened to approximately 95.33‑95.50 against the US dollar as oil prices climbed.
- ▪Higher oil prices raised concerns about increased import bills and inflationary pressure in India.
- ▪Market participants are moving toward safe‑haven assets like gold and US Treasuries due to heightened geopolitical risk.
- ▪Potential supply disruptions through the Strait of Hormuz are being closely monitored for their impact on oil markets.
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https://www.jpost.com/middle-east/iran-news/article-895234 Rupee weakens as US-Iran tensions drive oil prices higher WTI crude oil prices in July 2026 Share Add us on Google by Estefano Gomez Jul. 12, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); The Indian rupee is under pressure as crude oil prices have surged amid escalating tensions between the US and Iran.
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