European Stocks Fail To Hold Early Gains

European stocks failed to hold early gains on Wednesday as the mood turned cautious around mid-afternoon and investors assessed news about U.S.-Iran peace efforts and stayed largely reluctant to make significant moves in the final hour.

Weak oil prices helped lift sentiment. Brent crude futures fell below $98 a barrel after reports emerged that some LNG tankers have passed through the Strait of Hormuz in recent days, helping ease supply concerns amid prolonged West Asia conflict.