Stocks Rise as ECB Rate Decision Looms Amid US-Iran Tensions

Global stocks rose on Thursday as investors positioned ahead of a widely anticipated European Central Bank rate decision.

The FTSE 100 index in the UK edged higher by 0.06%, while Germany's DAX and France's CAC indices gained 0.12% and 0.30% respectively.

Oil prices were also on the move, with Brent crude for November delivery easing 0.37% to $100.89 a barrel, while WTI crude for October slipped 0.23% to $95.83.

The rise in oil prices is attributed to ongoing tensions between the US and Iran, which have led to several explosions along Iran's southern coastline and a decline in vessel transits through the Strait of Hormuz.

ING analysts warned that further escalation could tighten the market more sharply than recent weeks have implied.