The Pakistani rupee posted marginal gain against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday. At close, the local currency settled at 279.27, a gain of Re0.03 against the greenback. On Monday , the local unit closed at 279.30. Meanwhile, the US dollar drifted on Tuesday as traders weighed developments in the Iran war, while the Australian dollar eased slightly ahead of an expected rate hike from ​the country’s central bank later in the day. The euro was 0.12% lower at $1.1492 in ‌Asian trading, while sterling was also down 0.1% at $1.33, pulling back the sharp gains from the previous session. The dollar index was little changed at 99.913. Sentiment turned jittery again after several American allies rebuffed US President Donald Trump’s request to send warships to escort oil ​tankers through the Strait of Hormuz, casting fresh doubts on hopes that energy exports can begin ​to normalise soon. Surging oil prices due to the US and Israel’s war on Iran have made ⁠investors more worried about inflation, triggering a sharp repricing of rates outlooks across the globe. That has ​lifted the US dollar against most currencies. Furthermore, oil prices rose more than 2% on Tuesday, reversing some of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut and US allies rebuffing calls to send warships to help tankers move through the vital waterway. Brent futures jumped $2.74, or 2.7%, to $102.95 a barrel by 0357 GMT, while US West Texas Intermediate crude gained $2.45, or 2.6%, to $95.95. In the previous session, Brent futures settled 2.8% lower while US West Texas Intermediate (WTI) crude slid 5.3% after some vessels sailed through the critical waterway.