Why India’s Rupee Is Plunging to Record Lows

For every 10% rise in global crude oil prices, India’s inflation could rise by 0.2%.

The recent Israel-Iran conflict has immediately sent shockwaves through global oil markets. From June 12–16, Brent crude jumped approximately 7% to ~$74.23 , back to its April levels. Similarly, WTI surged about 7.6% to $72.98 . Even on June 16, both benchmarks remained elevated, with Brent around $74.87 and WTI at $73.74, following early session swings of over $4. Analysts from Goldman Sachs and Citi largely attribute these price increases to a risk premium rather than funda