The Rupee opened weaker on Thursday with crude oil prices resuming their climb, keeping up the ?pressure on the Asian nation's terms of trade and currency. The ?1-month non-deliverable forward indicated the rupee is likely to open in the 92.18-92.22 range versus the U.S. dollar, having settled at 92.04 on Wednesday. With no signs of de-escalation in the Persian Gulf, disruptions to oil flows through the ?Strait of Hormuz are likely to persist, ING Bank said in ?a note. Oil prices have swung wildly this week, moving between roughly $81 and $120 a barrel ?amid ?rapidly shifting headlines on the war. There was relief after U.S. President Donald Trump indicated a de-escalation in the Iran war and markets began pricing in the possibility of strategic reserve releases to cap the rally. ?The attack on ?fuel oil ?tankers has revived fears of supply disruptions, underscoring the fragility of that relief. The ?Reserve ?Bank of India has been actively intervening ?in the foreign exchange market in recent sessions, traders said, selling dollars to curb pressure ?from the choppy oil prices. The safe-haven U.S. dollar hovered close to its strongest levels this year on Thursday as climbing oil prices threatened to spur inflation ?and force central banks globally to adopt more hawkish policy stances. The euro fell 0.1% against the greenback to $1.1549 in early Asian ?trading, nearing its lowest level since November. Japan's yen briefly declined past the 159-per-dollar mark, easing as much as 0.2% to 159.23 and approaching its weakest level since July 2024. The Australian dollar dropped 0.1% at $0.7148, while the New Zealand dollar slid 0.1% to $0.5907. The British pound was down 0.2% at $1.3385. The surge ?in oil prices as the supply outlook worsens will push up energy costs and crimp global growth, economists warn, with ?the risks rising as the duration of the conflict lengthens. Fed funds futures show ?reduced odds ?that the Federal Reserve will ease policy this summer, with an implied 50.7% probability that ?the U.S. central bank will refrain from a cut at its July meeting, compared to a 43.4% chance a day earlier, according to the CME Group's FedWatch tool. Against the Chinese yuan , ?in offshore trade the U.S. dollar was flat at 6.8766 yuan. Oil prices climbed on Thursday after Iraqi security officials said Iranian explosive-laden boats had hit two fuel oil ?tankers amid other global supply disruptions from the U.S.-Israeli war on ?Iran. Brent futures rose $5.69, or 6.19%, to $97.67 a barrel at 0118 GMT, and U.S. West Texas Intermediate (WTI) crude was up $5.11, or 5.86%, to $92.36.......