Oil prices eased in Asian trade on Wednesday, after a gain of 4% in the previous session, as markets weighed the chance of supply disruptions from the Iran-Israel conflict against a U.S. Federal Reserve rates decision that could impact oil demand.

Asian shares were mixed and oil prices advanced Wednesday after the escalation of conflict in the Middle East hit Wall Street. U.S. benchmark crude oil was up 24 cents at $73.51 per barrel. Brent crude,

Shares of airline companies - Spicejet and IndiGo parent Interglobe Aviation - fell up to 1% today amid concerns that a rise in crude prices would propel aviation turbine fuel (ATF) higher. The ATF is a direct derivative of crude oil and constitutes a significant portion (30-40%) of an airline's operating expenses.