Indian Shares End Lower As Oil Prices, Yields Rebound

Indian shares ended Friday’s session notably lower as Brent crude prices spiked above $96 a barrel and global bond yields jumped amid expectations that U.S. interest rates will stay higher for longer.

The U.S. dollar rose to a 19-month high against major peers, buoyed by higher Treasury yields as traders weighed the chance of a larger-than-usual Federal Reserve rate hike next month.

Brent crude price steadied above $96 a barrel, after a nearly 3 percent rise in the previous session as attacks on Saudi energy infrastructure and Hormuz shipping disruptions offset signs of rising crude output.