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Oil prices surge on supply concerns; rupee hits record low

5 May 2026 · 16:12 ISTafter close1 source ↓written by the desknot a recommendation

amid escalating tensions: 4% overnight

Crude oil prices jumped 4% overnight amid escalating tensions in the Strait of Hormuz and tightening global inventories. This surge has contributed to the rupee sliding to a record low against the dollar. Traders should brace for volatility as these developments unfold in the market.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 5 May 2026, 16:12 IST.

Sourcesnews.google.com

Energy

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Oil prices surge on supply concerns; rupee hits record low

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