Overview
- Oil prices jumped Monday, with Brent near $116–$117 and WTI above $100, after Yemen’s Houthi movement said over the weekend it fired cruise missiles and drones at Israel and as President Trump talked about taking Iran’s Kharg Island.
- Asian shares fell Monday following last week’s Wall Street drop, and Indian benchmarks opened more than 1% lower in what traders said could become the worst month for local stocks in six years.
- India’s rupee, which closed at a record low near 94.81 per dollar on Friday, steadied around 93.8 after the Reserve Bank of India ordered banks to cap end‑of‑day net onshore rupee positions at $100 million by April 10 to curb speculative swings.
- Foreign investors have pulled more than $13 billion from Indian markets this month, intensifying rupee pressure as a pricier oil import bill pushes up inflation risks and squeezes households with higher fuel and transport costs.
- The Strait of Hormuz carries about one‑fifth of seaborne oil and gas and is now largely shut to most traffic, and new threats to Red Sea routes that handle roughly 12% of global trade raise the chance that energy and shipping costs stay elevated.