Europe open: Shares fall, oil rises as US launches fresh strikes on Iran

(Sharecast News) - European shares opened lower and oil prices gained on Monday as the US military launched fresh attacks on Iran amid increasing tensions over the Strait of Hormuz. The pan-regional Stoxx 600 index was down 0.12% to 640 at 0810 BST with all major bourses lower. Brent crude rose 4.2% to $79.18 a barrel.

Tehran said it had closed the strait of Hormuz, while Donald Trump insisted the key shipping passage remained open.

American forces began launching more strikes against Iran at 2100 GMT on Sunday according to US Central Command "to continue degrading their ability to attack civilian mariners and commercial ships freely transiting the Strait of Hormuz".

In response, Iran retaliated by attacking nations in the region hosting US military forces. Jordan's army said it had shot down four Iranian missiles while Kuwait said it was responding to "hostile aerial targets".

The strikes saw oil stocks rise, as expected, with Aker BP, Repsol and Equinor among the gainers.

Reporting by Frank Prenesti for Sharecast.com