Archive · 20 Jul 2026
Oil Surge Above 90 Weighs on Asian Markets
On Monday, Asian markets went down because oil prices went up.
This happened because there are big problems in the Middle East, especially near the Strait of Hormuz, where a lot of oil ships go.
The price of Brent crude oil went up more than 2% to over USD 90 per barrel.
This is the highest it has been since June 11.
Last week, the price of Brent crude oil went up a lot, about 15.9%, which is the biggest increase in a week since April.
The price of US West Texas Intermediate (WTI) crude oil also went up.
All of this is making people worried about inflation and is making investors feel less happy.
The Indian rupee also opened weaker at 96.41.
Asian markets declined on Monday due to rising oil prices and escalating tensions in the Gulf.
Brent crude surged over 2% to trade above USD 90 a barrel on July 20.
Brent futures rose 2.37% to USD 90.19 a barrel, the highest since June 11.
US WTI crude climbed 2.07% to USD 84.20 a barrel, the highest since June 12.
The Indian rupee opened weaker at 96.41 due to the market sentiment.
- Who
- Asian markets and investors
- What
- Decline in Asian markets due to rising oil prices
- When
- July 20
- Where
- Asian markets, Middle East (Strait of Hormuz)
- Why
- Escalating tensions in the Gulf and rising oil prices
- Brent Crude Price
- USD 90.19 per barrel
- WTI Crude Price
- USD 84.20 per barrel
- Date
- July 20
- Brent Crude Increase
- 2.37%
- WTI Crude Increase
- 2.07%
- Weekly Brent Increase
- 15.9%
- Rupee Opening
- 96.41