European markets head for mixed open as oil prices hold below $100

LONDON — European stocks are expected to open in mixed territory on Wednesday as regional investors assess the latest military operations against Iran and declining oil prices.

The U.K.’s FTSE 100 index is seen opening 0.2% lower, with Germany’s DAX up 0.13%, France’s CAC 40 up 0.34% and Italy’s FTSE MIB 0.25% higher, according to data from IG.

The Iran war remains a focal point for European markets, with regional stocks edging lower on Tuesday after U.S. forces carried out what Central Command described as “self-defense” strikes in southern Iran, targeting missile launch sites and Iranian vessels allegedly attempting to deploy mines.

In response, Iran’s foreign ministry accused the U.S. of a “gross violation” of the fragile ceasefire between the two nations.

U.S. Secretary of State Marco Rubio said that the Strait of Hormuz will have to be opened “one way or the other.”

The apparent flare-up in hostilities came despite President Donald Trump indicating in a Truth Social post earlier this week that a peace agreement could be in sight, with negotiations “proceeding nicely.”

Oil prices pulled back on Wednesday, with global benchmark Brent crude futures last seen trading 1.7% lower at $97.89 a barrel. U.S. West Texas Intermediate oil futures were down 2.1% at $91.88 per barrel.

Asia-Pacific markets rose on Wednesday, with Japan and South Korea’s benchmark indices hitting new highs record highs. U.S. stock futures were little changed early Wednesday after a tech-driven rally also lifted the S&P 500 and Nasdaq Composite to new record highs.

There are no major earnings or data releases in Europe on Wednesday.

— CNBC’s Lee Ying Shan contributed to this market report.