Tensions Between Iran and US Send Oil Prices Soaring, Rupee Plunges

New Delhi, Thursday, 30 April 2026: Rising tensions between Iran and the United States in global politics are having a direct impact on the financial market. Brent crude oil prices jumped 7.1% to a four-year high of $ID1 per barrel on reports of a possible military strike on Iran. The worst impact of this surge has been on the Indian economy, with the rupee plunging to an all-time low against the dollar. War fears and oil price spikes: Admiral Brad Cooper of US Central Command (CENTCOM) is due to brief President Donald Trump on military options against Iran, reports Axios. Brent crude rose to $ID1 and West Texas Intermediate (WTI) dollar in Asian trading on news that a "short and powerful" strike was planned on Iranian infrastructure to relieve a growing barrier in the Strait of Hormuz.