Tumultuous Markets Amid Iran War Impacting European Shares

European shares inched up during Tuesday morning's trading session but remained set for their biggest monthly decline since 2022. This comes amid the ongoing turmoil caused by the Iran war, which has led to a substantial rise in oil prices.

The conflict, alongside threats from President Trump, has heavily influenced global markets, causing dramatic fluctuations in equity, commodities, and currencies. Market sentiment was relatively buoyed by reports suggesting President Trump may be willing to end military actions.

Brent crude hit $114.44 per barrel, potentially marking a record monthly gain, while the closure of the Strait of Hormuz has strained global oil supply chains. The European Union's energy chief has urged governments to brace for extended energy market disruptions, raising concerns over economic growth prospects.