Analysts warned that crude oil prices could hit $100 a barrel mark if the conflict extends. An end to the war can cool off oil prices below $70 a barrel level, they said, as the oil market is well-supplied for now.

India's equity benchmark indexes opened lower on Wednesday as escalating hostilities in the Middle East pushed oil prices higher and dampened investor sentiment. The Nifty 50 was down 0.26% at 24,788.