Europe open: Oil rises again, shares fall as US continues Iran attacks

(Sharecast News) - European shares fell and oil prices continued to surge on Tuesday as the US launched a third straight night of strikes on Iran and President Donald Trump threatened a levy on shipping transiting the Strait of Hormuz. The pan-regional Stoxx 600 was down 0.48% to 637.98 at 0812 BST will all major bourses lower as US forces continued their latest bombing campaign and Iran responded with attacks on neighbouring states and vessels in the strait.

Trump said the US would reinstate its blockade of Iranian shipping in the Gulf starting at 2100 BST.

He also appeared to reverse course on official policy, saying the US would start charging fees on ships transiting through the key waterway. A 20% fee would be levied "for any and all costs necessary" to provide security and safety for vessels, Trump said.

The report sent crude oil prices higher again with Brent crude now up 2.65% to $85.51 a barrel.

In equity news, Swedish tech industry equipment maker Mycronic surged after second quarter sales beat estimates.

Reporting by Frank Prenesti for Sharecast.com