MUMBAI, March 4 -- The Indian rupee tumbled to a record low of 92.41 against the US dollar on Wednesday, battered by a sharp rise in crude oil prices and a surge in safe-haven demand for the greenback as hostilities intensified in West Asia.

The rupee had breached the crucial 92 mark at open, compared with its previous close of 91.47. The Indian unit finally closed at 92.15 today, according to Bloomberg data.

Traders said the rupee was pressured by heavy dollar demand from oil marketing companies and importers amid escalating regional tensions. Crude prices rose over $2 per barrel after fresh military strikes between Iran and Israel, which are expected to delay shipments and disrupt West Asian supply chains. The surge in oil, coupled wi...