European Shares Fall as Oil Prices Rise on Middle East
European shares declined on Monday after US-Iran military strikes drove oil prices higher, though the STOXX 600 still secured its fifth consecutive monthly gain. German inflation accelerated due to energy costs as investors awaited upcoming ECB rate decisions.
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European shares fell 0.6% to 651.1 points on Monday morning as fresh United States–Iran military strikes pushed oil prices higher. The benchmark STOXX 600 still secured its fifth consecutive monthly gain with a 0.3% rise in August. Energy costs escalated after clashes in the Strait of Hormuz.
