Galaxy Globe bulk carrier and Luojiashan tanker sit anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 9, 2026.
Benoit Tessier | Reuters
LONDON — European stocks are set to see another negative day of trading as traders watch developments in the Middle East and reduced but still elevated oil prices.
The U.K.’s FTSE index is seen opening 0.5% lower, Germany’s DAX down 1%, France’s CAC 40down 0.75% and Italy’s FTSE MIB 0.9% lower, according to data from IG.
It was a mixed picture from global markets overnight, with Asia-Pacific markets rebounding while U.S. stock futures fell.
Those moves cameafter oil prices pared gains after U.S. President Donald Trump told a CBS News reporter that “the war is very complete, pretty much,” but also signalled a readiness to act to keep the vital oil passage, the Strait of Hormuz, open.
Trump said he was considering seizing control of the strait, saying Iran would be hit harder if it did anything to stop oil flows through the strategic sea passage.
Oil prices plunged as much as 10% overnight after Trump’s comments, but remain elevated: Brent crudewas down around 6.2% at $92.71 per barrel as of 5 a.m. London time on Tuesday. U.S. crude oilwas down 6.5%% at $88.49 per barrel. The declines come after oil surged past $100 on Monday.
A spokesperson forIran’s Ministry of Foreign Affairs told CNBC on Monday thatoil tankerstransiting theStrait of Hormuz“must be very careful.”
Earnings reports are due from Saudi Aramco, Volkswagen and Lindt. On the data front, Germany and French trade balance figures are due.
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