Oil Near 108 as Trump Plans Backfire on India and Threaten Rupee at 98

Escort tankers to cut prices but prices surged

Trump’s “Project Freedom,” meant to lower global oil prices by using the US Navy to clear the Strait of Hormuz, is producing the opposite effect for India. With military escalation keeping Brent crude above $108, analysts warn of a “flight to safety” trade that could push the rupee toward ₹98 per dollar and trigger a major energy shock by late 2026.