European equity markets were set to open lower on Wednesday, giving back some of the previous session’s gains as investors continued to assess escalating tensions in the Middle East that drove oil prices higher.
The US launched another round of strikes against Iran while reinstating its naval blockade of Iranian ports near the Strait of Hormuz, raising fresh concerns over regional stability and energy supplies.
Meanwhile, softer-than-expected US inflation data reduced expectations of an imminent Federal Reserve interest rate hike, lending some support to broader equity markets.
In Europe, investors will focus on Eurozone industrial production and final Spanish inflation figures, while the corporate earnings calendar remains light.
In premarket trading, Euro Stoxx 50 futures slipped 0.1%, while Stoxx 600 futures declined 0.2%.