European and Asian stocks cautious amid oil rise
European stocks experienced a slight decline of 0.2%, due to escalating tensions between the United States and Iran in the Middle East. This led to a rise in oil prices to over $90 per barrel for the first time in a month, while shares of travel and tourism companies suffered and fell by 1.3%. Meanwhile, energy stocks increased by 1.4% amid growing risks to navigation through the Strait of Hormuz, amid ongoing military escalation led by the United States against Iran. The market is expected to focus on the results of major U.S. companies and the European Central Bank's outlook.
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