OilPrices – Global Markets Slide as Crude Weakens and Rupee Hits Record Low

OilPrices –  Global commodity markets experienced a turbulent week, with crude oil prices witnessing sharp fluctuations and ending lower on Friday. Investor sentiment remained cautious as geopolitical uncertainties and currency movements continued to influence trading patterns across asset classes.

Crude Oil Benchmarks Decline Sharply

International oil prices saw notable losses during early trading hours. Brent crude futures dropped by up to 2.29 percent, settling around $105.53 per barrel, while US West Texas Intermediate (WTI) crude fell 2.54 percent to $92.08.

Over the course of the week, both benchmarks recorded a decline of nearly 5 percent. Brent hovered close to the $100 mark, while WTI slipped toward $90, reflecting weakening demand sentiment and ongoing uncertainty in global markets.

Rupee Slides to Historic Low Against Dollar

In currency markets, the Indian rupee came under pressure, weakening by 28 paise in early trade to reach an all-time low of 94.24 against the US dollar. The depreciation highlights persistent concerns over capital flows, rising import costs, and external economic pressures.

The falling rupee adds to inflationary concerns, particularly as India remains heavily dependent on crude oil imports. A weaker domestic currency increases the cost of importing energy, further impacting the broader economy.

Safe-Haven Assets Gain Amid Market Uncertainty

As risk sentiment deteriorated, investors shifted toward safer assets such as precious metals. Gold futures for early April delivery rose by Rs 1,486, or 1.07 percent, reaching Rs 1,40,979. Similarly, silver futures for May gained Rs 4,223, or 1.92 percent, trading at Rs 2,24,097.

The rise in gold and silver prices reflects increased demand for safe-haven investments as market participants seek stability amid ongoing volatility.

Geopolitical Tensions Continue to Weigh on Markets

The broader decline across commodities and equities is largely attributed to unresolved tensions in West Asia. The situation remains uncertain, with no clear indication of de-escalation in the near term.

Adding to the complexity, US President Donald Trump indicated that the suspension of attacks on Iran’s energy infrastructure would continue into April. He also suggested that diplomatic discussions with Tehran were progressing positively. However, an Iranian official dismissed a US proposal aimed at resolving the conflict, describing it as unfair and heavily biased.

Iran has not officially confirmed any active negotiations with the United States, leaving markets uncertain about the direction of future developments.

Global Equity Markets Under Pressure

Stock markets across the world reflected the cautious mood. In the United States, major indices closed lower, with the S&P 500 declining by 1.74 percent and the Nasdaq falling 2.38 percent.

Asian markets mirrored this trend. Japan’s Nikkei index slipped by more than 1 percent, while South Korea’s Kospi dropped nearly 3 percent, indicating widespread investor concerns across the region.

Indian Markets Open Lower

Domestic equity markets also started the day on a weaker note. The Sensex fell by over 400 points in early trade, reaching 74,883.79. Meanwhile, the Nifty opened at 23,173.55, marking a decline of 132.90 points or 0.57 percent.

The downward movement reflects global cues as well as domestic concerns linked to currency weakness and commodity price volatility.