New Delhi, July 20 -- Rising crude oil prices have renewed concerns over inflation and India's exposure to an energy shock, which could impact the rupee and foreign portfolio investment (FPI) flows.

Brent crude futures rose USD 2.69, or 3.05 per cent, to USD 90.79 per barrel by 2343 GMT, the highest level since June 11. The benchmark has gained 15.9 per cent over the past week, marking its biggest weekly rise since April. At the time of reporting, Brent crude was trading at around USD 90.42 per barrel, while WTI crude was at around USD 84.47 per barrel.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said, "There are near-term headwinds and tailwinds for the market now. The strongest headwind is Brent crude sp...