A temporary surge in oil prices to $100 per barrel could slow global growth by 0.4 percentage point, Goldman Sachs analysts said on Thursday, as a widening conflict in Iran chokes off vital Middle East oil and gas flows.

Under its baseline forecast, Goldman expects oil prices to increase a bit further before moderating to $76 per barrel on average in the first quarter of 2026 and $65 in the fourth quarter.

Russia on Thursday accused the United States and Israel of trying to drag Arab countries into a wider Middle East conflict by provoking Iran into striking targets across the region and said there was no sign Washington and Tel Aviv would let up.

Arab states in the Gulf, all close US allies - some of which also have close ties with Russia - have come under Iranian drone and missile attacks since the United States and Israel launched their air strikes on Iran on Saturday.

India's Adani Total Gas (ATGL) has sharply raised ​prices for supplies to industrial clients, citing lower availability of gas due to ‌conflict in the Middle East, according to a customer notice seen by Reuters.

The company is a joint venture of Adani Group and French oil major TotalEnergies SE.

SpiceJet will operate 13 special flights from the UAE on Thursday to facilitate the return of passengers stranded due to the Middle East conflict.

"Of the 13 flights, 12 will operate from Fujairah and 1 will operate from Dubai. The airline will operate seven special flights to Mumbai, five special flights to Delhi and one special flight from Dubai to Mumbai," it said in a statement on Thursday.

The ongoing war with Iran could cost Israel an estimated NIS 9.4 billion ($3 billion approximately) per week under current restrictions on economic activities, the Israeli Finance Ministry has warned.

"In a letter sent to the Home Front Command chief, Maj. Gen. Shai Klapper, Finance Ministry Director General Ilan Rom asked to ease restrictions to allow for a gradual, partial reopening of businesses and workplaces as early as Thursday," the Times of Israel reported.

Iran’s elite Islamic Revolutionary Guard Corps (IRGC) on Wednesday said it was prepared for the “complete destruction of the region’s military and economic infrastructure” if the United States continued its actions in the Middle East, news agency Associated Press (AP) reported.

The statement, broadcast through Iranian state television, is the most direct warning issued by the organisation since the conflict started five days ago.

Shares of Indian Oil Marketing Companies (OMCs) continued to face selling pressure for the second straight session after oil prices soared as escalating West Asia tensions rattled investor sentiment.

Bharat Petroleum Corp. (BPCL) stock fell as much as 4.5 per cent to ₹357.6 per share. Shares of Indian Oil Corp (IOC) and Hindustan Petroleum Corp (HPCL) slid 4.3 per cent and 5 per cent, respectively. The Nifty Oil and Gas index was down 3.2 per cent.

The ongoing conflict in West Asia triggered a sharp fall in the Nifty 50 index in the last two trading sessions. The index is now trading nearly 1,000-points below its 200-day moving average (DMA) that stands at 25,345 mark - a key technical level it first breached last Friday. If the war prolongs and impacts crude oil prices further, analysts see more pain ahead for the markets.

Amid escalating tensions in West Asia and growing concerns over disruptions to global oil supplies, President Donald Trump announced that the United States would take "immediate steps to safeguard maritime trade" in the Gulf region, including offering political risk insurance and potentially deploying naval escorts through the Strait of Hormuz.

Tickets for the playoffs in Mexico that will determine two of the final World Cup berths are being sold by Fifa for less than $17, far less than the $4,185 to $8,680 Fifa is charging for this year's final in New Jersey.

Fifa put tickets on sale Tuesday for the games on March 26 and 31 in Guadalajara and Monterrey involving Bolivia, Congo, Jamaica, New Caledonia and Suriname.

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