Europe Blinks as Oil Prices Rise Amid Hormuz Uncertainty

European markets were poised for a quiet start on Wednesday as investors remained cautious about rising oil prices and waited for key inflation data from the US. Despite some optimism, there were doubts that an agreement to reopen the Strait of Hormuz could be reached, with Pakistan's defense minister saying Washington and Tehran are moving closer to a deal.

In Europe, investors will review final July inflation figures for Germany and Italy, along with earnings reports from major companies like E.ON, Hannover Rueck, M&G, and Brenntag. ABN Amro, a Dutch lender, delivered better-than-expected quarterly earnings due to increased fee income and stronger lending revenue.

The bank's strong results prompted it to upgrade its forecast for its largest source of revenue. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were little changed to slightly lower.