Major European Markets Close Slightly Up

After spending much of the day’s trading session in negative territory, the major European markets closed slightly higher on Tuesday thanks largely to some brisk buying at select counters during the final hour.

While rising oil prices amid escalating tensions in the Middle East hurt sentiment, weaker-than-expected inflation data from the U.S. helped pull stocks off their lows.

Oil prices rose as supply concerns returned to the fore after U.S. President Donald Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz and proposed to impose a 20% fee on all cargo passing through the vital waterway for guarding it.