Euro Stocks Edge Up Amid Hormuz Tensions and ECB Rate Hike

European equities inched up on Monday, but trading was muted due to escalating tensions in the Persian Gulf and an impending interest rate hike by the European Central Bank.

The pan-European STOXX 600 index rose 0.1%, but remained near multi-week lows as investors processed fresh geopolitical friction along one of the world's most critical maritime bottlenecks - the Strait of Hormuz.

Major regional benchmarks struggled to gain momentum, with Germany's DAX and France's CAC 40 trading in tight ranges as investors weighed higher energy costs against persistent rate-hike expectations.

The military standoff between Iran and the US pushed crude oil benchmarks up another 1% on Monday, building on a nearly 10% weekly surge that carried Brent crude past $90 a barrel.