By Nidhi Verma NEW DELHI, July 23 (Reuters) - Traders have stopped offering discounts on Russian crude sold to India as disruptions to Middle Eastern supplies have boosted demand for alternative grades,

Continuing strikes by the U.S. and Iran and the threat of further escalation sent oil futures higher for a fourth straight session.

Humza Hussain joined MoneyTalk to discuss why crude’s long-term value could be higher than before and why forecasting the next move remains as difficult as ever.

The conflict in the Middle East has deepened forecasts ​of a global oil deficit in 2026, according to a Reuters poll of analysts, but recovering Gulf flows, robust U.S. ‌production and weaker demand from China are expected to tip the market into an oversupply in 2027.

Gold held steady on Thursday, falling from two-week highs, as an escalating Mideast conflict drove oil higher, while traders look to next week's Fed meeting for clues on potential rate hikes.

The IMF warns that renewed Middle East war and soaring oil prices threaten India's growth, already cut to 6.4% for FY27.