European Stock Indexes Fall for Third Consecutive Day as Energy Prices Rise
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European stock indexes declined for the third straight day as energy markets reacted to escalating tensions in the Middle East. Oil and natural gas prices surged after Iran detained vessels near the Strait of Hormuz, the crucial waterway through which about one-fifth of the world's oil passes. The Strait of Hormuz, located between Iran and Oman, is a strategic chokepoint for global energy supplies, connecting the Persian Gulf to international markets. Iranian actions in this region typically trigger immediate concerns about supply disruptions, driving up commodity prices and weighing on broader financial markets across Europe.