FX.co ★ European Stocks Lower as Oil Prices Soar

European stocks opened the week lower, with the STOXX 50 down 1% and the STOXX 600 off 0.8%, as investors returned from the weekend to renewed geopolitical tensions in the Middle East and a sharp increase in oil prices. Fresh strikes exchanged between Iran and Israel have further strained an already fragile ceasefire, heightening concerns that efforts to resolve the conflict may be losing momentum. The resulting broad-based selloff pressured most sectors, while energy stocks outperformed, supported by a nearly 4% jump in crude oil prices.