European shares drop to two-month low amid Middle East war

European stock markets fell to their lowest levels in over two months as rising oil prices fueled inflation concerns, with the ongoing war between the United States and Israel against Iran showing no signs of easing.

The pan-European benchmark index declined for the third consecutive session, falling 2.34% to 585.08 points by 08:10 GMT. Last week, the index dropped 5.5%, marking its worst week in nearly a year, Caliber.Az reports via French media. 

Oil prices surged more than 25%, approaching $120 per barrel, amid fears of prolonged shipping disruptions and supply constraints linked to the escalating conflict in the Middle East.

By Sabina Mammadli