New Delhi, June 1 -- The Indian rupee opened marginally higher by 3 paise at 94.97 against the US dollar on Monday, 1 June, even as rising crude oil prices and expectations of continued foreign portfolio outflows weighed on sentiment.

Oil prices climbed after hopes of a breakthrough in US-Iran peace negotiations faded. Brent crude advanced more than 2.5% to $93.4 per barrel as Israel intensified military operations in Lebanon, reducing expectations that Washington and Tehran would soon agree to extend their ceasefire arrangement.

The surge in crude prices put pressure on most Asian currencies, with the South Korean won emerging as the biggest loser, declining 0.9%. The rupee is also expected to face headwinds from higher oil prices, wit...