Oil prices make an U-turn and fall To about $115 A Barrel, as European Union (EU) members disagreed on a potential oil embargo on Russia, but supply concerns limited the decline.
The rupee started on a weak note against the dollar, tracking equity benchmarks which edged lower on Monday and higher oil prices, which rose over 3 per cent to above $111 a barrel on supply concerns.
Financial markets brace for more turmoil this week as the Russia-Ukraine conflict shows little signs of easing. At the same time, European Union nations consider joining the US in a Russian oil embargo sanction.