Oil Price Decline Fuels Higher European Markets Ahead of US-China Summit

European stock markets are poised for a higher open on Wednesday as oil prices continue to decline. The decrease in oil prices has eased concerns over inflation and interest rates, which had been weighing on investors' minds.

The optimism is also driven by the progress made in renewed US-Iran talks, where President Donald Trump said that US officials had a 'very good' meeting with Iranian envoys. Additionally, Tehran stated that it could reopen the Strait of Hormuz within seven days if the US eases military pressure and lifts its blockade of Iranian ports.

The technology sector is also gaining momentum due to renewed interest in AI stocks. This development is being fueled by optimism surrounding Thursday's upcoming US-China summit, which may lead to new trade agreements.