The Indian stock market eyes a gap-down opening on Wednesday as the war in the Middle East continued a day after President Donald Trump said the United States had made progress in talks with Iran to end the conflict.At 7:00 pm, Gift Nifty traded around 22,807, down nearly 140 points, indicating a negative start for the Indian stock market.GIFT Nifty operates in two trading sessions. The first session runs from 6:30 a.m. to 3:40 p.m. IST. The second session begins at 4:35 p.m. and continues until 2:45 a.m. the following day.This comes as oil prices surged sharply after fresh military strikes between the US-Israel alliance and Iran intensified tensions in the Middle East, raising fears of a prolonged supply shock and disruption to global energy flows. Brent Crude, the international benchmark, rose by $1.47 per barrel to $101.41, while WTI Crude jumped 5.1% to $92.62 per barrel as the conflict showed signs of further escalation.ALSO READ: Wall Street Bulls Retreat As Iran De-Escalation Hopes Falter; S&P Down Nearly 1%Amid the rising geopolitical tensions and spike in oil prices, US stock markets also opened lower on Tuesday, reflecting investor concerns over inflation and global growth.The Dow Jones Industrial Average fell 0.7% at the open, while the S&P 500 declined 0.5%. The tech-heavy Nasdaq 100 also dropped 0.7% as rising oil prices increased concerns about input costs, inflation and interest rates staying higher for longer.The rise in oil prices comes as the situation around the Strait of Hormuz remains critical. Iran's effective chokehold over the key shipping route has disrupted international shipping, pushed up fuel costs and raised concerns about a broader shock to the global economy.With thousands of additional US Marines reportedly heading to the Gulf and both sides continuing heavy strikes, tensions remain elevated. Iran has denied that any negotiations are taking place, even after US President Donald Trump delayed his self-imposed deadline for Iran to reopen the Strait of Hormuz.In another development, the Israeli Defense Forces said it struck fuel stations in Lebanon that allegedly fund Hezbollah, signalling a widening of the conflict beyond Iran and increasing geopolitical risks in the region.With military activity intensifying and no diplomatic breakthrough in sight, markets are expected to remain volatile, with oil prices and geopolitical developments likely to drive global equities in the near term.