Oil Price Surge Weighs on European Stocks Amid Middle East Tensions

European stock markets closed mixed on Tuesday as rising oil prices fueled inflation concerns amid ongoing tensions in the Middle East.

The pan-European STOXX Europe 600 index fell 0.05% to 649.60, while Germany's DAX remained flat at 26,007.63 and the UK's FTSE 100 dropped 0.1% to 10,811.66.

Oil prices continued their upward streak for a third consecutive session, with Brent crude staying above $90 per barrel due to concerns about global energy supplies following disruptions around the Strait of Hormuz.

The increased energy costs raised concerns that inflation could persist and corporate profit margins might come under pressure, particularly in European economies reliant on imported energy.