European Stocks Edge Higher on Elevated Oil Prices

European stocks edged higher on Tuesday as energy shares rose in line with elevated oil prices. The pan-European STOXX 600 index was up 0.1% at 661.39 points, marking a modest gain for investors.

The energy sector led the charge, increasing by 1% as oil prices hit their highest level this month. This boost came despite concerns that ongoing tensions in the Middle East could stoke inflation and impact monetary policy decisions.

However, not all sectors benefited from the upswing. Travel and leisure stocks fell 0.7%, likely due to renewed worries over rising fuel costs.

In other news, Alcon, a Swiss-American eye-care company, saw its shares rise by 5.7% after it upgraded its full-year earnings forecast.