Updated: Indian bonds fall for third session as oil prices near $100 a barrel

Indian government bond yields rose for a third straight session, with the benchmark 6.94% 2036 bond yield closing at 6.8413 percent, its highest in a month. The move was driven by Brent crude prices approaching $99 a barrel amid escalating Middle East tensions and concerns over Strait of Hormuz disruptions, with India importing nearly 90 percent of its crude needs. Analysts warned that sustained oil price gains could widen India's import bill, pressure the rupee, and revive inflation risks, while BofA Securities flagged El Nino food-price risks and rate-hike concerns.