The Indian rupee is likely to extend its decline on Wednesday as crude prices rose for a fourth consecutive session and Brent approached $100 a barrel, increasing pressure on India’s import bill and testing the Reserve Bank of India’s support for the currency. Traders expect an opening between 94.84 and 94.86 per dollar, after the rupee settled at 94.8175 in the previous session. Brent was at $99.33 a barrel, up 1.4%, at 2:12 a.m. GMT, while WTI rose 1.4% to $94.34. The advance followed attacks involving Iran, U.S. forces and Iran-backed Houthis that heightened concern over Gulf exports and shipping through the Strait of Hormuz. Kpler data showed six commodity vessels crossed the waterway on Tuesday, compared with a 10-day average of 12. The oil rally is supported by tighter U.S. inventories and limited additional OPEC+ supply, although weaker Chinese demand remains a counterweight. A bank currency trader said the RBI may be increasingly cautious about using its foreign-exchange reserves to support the rupee and said a fall to 95 would not be surprising.