economy

March 13, 2026

European stocks close lower as oil prices hold near $100 a barrel

European stocks closed lower Friday as the conflict in the Middle East brought mixed signals to markets.

European stocks close lower as oil prices hold near $100 a barrel

TL;DR

  • European stocks closed lower, with mixed sector performance.
  • Oil prices surged about 20% due to the U.S.-Iran conflict, raising supply disruption fears.
  • The U.S. issued a temporary waiver on sanctioned Russian oil and announced strategic reserve releases.
  • Iran's leader stated the country would continue to block a vital shipping channel.
  • Sterling fell against the dollar and euro as U.K. economic data showed a stall.
  • Asian and U.S. stock markets also experienced declines.

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