Indian shares were expected to open little changed on Wednesday as renewed Middle East tensions pushed Brent crude futures 1.5% higher to $99.5 a barrel. The conflict intensified after Iranian-backed Houthis in Yemen launched strikes on several Saudi cities, U.S. forces hit multiple Iranian oil tankers and Iran struck a U.S. base in Jordan. Higher oil prices pose risks for India, which imports most of its energy needs, by widening the trade deficit, increasing inflation and weighing on economic growth. GIFT Nifty futures stood at 23,652.5 points at 7:46 a.m. IST, compared with the Nifty 50’s Tuesday close of 23,635.1. The Nifty 50 and BSE Sensex have each fallen 2.2% over the past seven sessions, declining in six, and both ended Tuesday at their lowest levels since June 12. Global investors were focused on U.S. inflation data due later in the week, which is an important input for the Federal Reserve’s rate decision next week. Higher U.S. interest rates can weigh on emerging-market equities by reducing foreign investment flows and making the dollar and Treasuries more attractive. Foreign investors were net sellers of Indian shares worth 1.23 billion rupees ($12.97 million) on Tuesday and have sold $1.33 billion of shares so far in September. Biocon was in focus amid media reports that Active Pine was likely to sell a stake through a 6.38 billion-rupee block deal. Coforge said its Chairman Om Prakash Bhatt resigned after an internal audit of a board evaluation identified concerns, including incomplete disclosure to the board of material information about his own performance.