# Oil spike sends India assets lower as inflation concerns revive

> The rupee fell 0.8% to 71.48 per dollar on September 16, 2019, after the Saudi drone attacks drove crude to its biggest-ever gain, halting a seven-day rally. Indian bond yields rose and the Sensex declined 0.7%. India buys more than two-thirds of its oil, mostly from the Middle East.

- Date: 2019-09-16 · published 2019-09-16T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/57385-oil-spike-sends-india-assets-lower-as-inflation-concerns-revive
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A sustained crude spike would raise India's import bill and could limit the central bank from delivering more than a small rate cut. Higher energy costs also add to the cost of transport and processing for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- USDINR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-03-31 | [Oil Rises On Cooling US Inflation, Lower Global Supplies](https://feedsoft.ai/events/37043-oil-rises-on-cooling-us-inflation-lower-global-supplies.md) | +8.8% | +2.0% |
| BRENT | 2026-07-30 | [Bank of Japan intervention sends USD lower across Asia \| Convera](https://feedsoft.ai/events/18596-bank-of-japan-intervention-sends-usd-lower-across-asia-convera.md) | -9.2% | -3.9% |
| BRENT | 2021-05-26 | [Equities, dollar rise as Fed officials downplay inflation concerns](https://feedsoft.ai/events/47004-equities-dollar-rise-as-fed-officials-downplay-inflation-concerns.md) | +3.3% | +9.4% |
| BRENT | 2026-03-23 | [Indian rupee hits record low as prolonged oil spike pressures economic outlook \| Reuters](https://feedsoft.ai/events/20449-indian-rupee-hits-record-low-as-prolonged-oil-spike-pressures-economic-outlook.md) | +1.5% | -13.8% |
| BRENT | 2026-07-23 | [Japan core inflation rate in June creeps up from 4-year low as higher oil prices bite](https://feedsoft.ai/events/18586-japan-core-inflation-rate-in-june-creeps-up-from-4-year-low-as-higher-oil.md) | -2.9% | -2.2% |
| WTI | 2026-03-18 | [Gold Tumbles as Powell’s Inflation Concerns Dash Easing Bets](https://feedsoft.ai/events/20074-gold-tumbles-as-powell-s-inflation-concerns-dash-easing-bets.md) | -3.3% | -3.8% |
| WTI | 2023-03-31 | [Oil Rises On Cooling US Inflation, Lower Global Supplies](https://feedsoft.ai/events/37043-oil-rises-on-cooling-us-inflation-lower-global-supplies.md) | +8.6% | +3.3% |
| WTI | 2021-05-26 | [Equities, dollar rise as Fed officials downplay inflation concerns](https://feedsoft.ai/events/47004-equities-dollar-rise-as-fed-officials-downplay-inflation-concerns.md) | +3.9% | +10.4% |

## Sources

- theprint.in: https://theprint.in/economy/oil-spike-sends-india-assets-lower-as-inflation-concerns-revive/291988/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.