Oil prices headed for weekly gains as of Friday, despite the U.S. issuing a 30-day license for countries to buy Russian oil and petroleum products at sea.<\/p>\n
Bloomberg Creative Photos | Bloomberg Creative Photos | Getty Images<\/p>\n
LONDON \u2014 European stocks fell in early trading as the ongoing unrest in the Middle East and elevated global oil prices continue to unsettle investors.<\/p>\n
The pan-European Stoxx 600<\/a> dipped 0.4% shortly after 9:40 a.m. in London (5:40 a.m. ET), with most major bourses and sectors in the red.<\/p>\n While the U.K.’s FTSE<\/a> 100 was last seen trading flat, Germany’s DAX<\/a> was down 0.4%, and France’s CAC 40<\/a>\u00a0fell almost 0.6%. Italy’s FTSE MIB<\/a> was more than 1% lower.<\/p>\n Oil and gas stocks led gains as the price of Brent crude remains elevated, while autos, utilities, and travel stocks led losses. <\/p>\n Commerzbank<\/a> shares jumped 3.9% on the news that UniCredit<\/a> has launched an offer to increase its stake<\/a> in\u00a0the German bank to\u00a0above 30%, a key regulatory hurdle potentially paving the way for a full takeover bid. <\/p>\n The Italian lender’s offer is expected to be at a roughly 4% premium to Commerzbank shares. UniCredit shares were last seen trading down 1.9%. <\/p>\n The U.S. and Israel’s military operation against Iran remains the key focus for global markets. U.S. crude prices climbed Sunday evening, topping $100 per barrel again<\/a>, as the White House weighed military strikes on Iran’s key oil export facilities on Kharg Island.<\/p>\n President Donald Trump<\/a>\u00a0said in an interview with the Financial Times published on Sunday that his planned trip to China later this month could be delayed<\/a> as Washington seeks to pressure Beijing to help reopen the Strait of Hormuz.<\/p>\n Asia-Pacific markets<\/a> fell overnight while U.S. stock futures<\/a> rose slightly as Wall Street tried to recover from another losing week.<\/p>\n Central banks are in focus this week with the U.S. Federal Reserve, European Central Bank and Bank of England all holding policy meetings<\/a>. However, the Middle East conflict has put a brake on any expectations for movement on interest rates.<\/p>\n No earnings or data releases are due in Europe on Monday.<\/p>\n