European Stocks Slip On Middle East Tensions, Oil Price Concerns

European stocks closed slightly lower on Wednesday as persisting concerns about Middle East tensions and elevated oil prices rendered the mood cautious. In addition to digesting the regional inflation data, investors looked ahead to the minutes from the Federal Reserve’s latest monetary policy meeting for clues about the central bank’s future interest rate moves.

Oil prices moved higher after reports suggested that most shipowners are avoiding the Strait of Hormuz because of a lack of clear signals on its reopening.