European equities fell, with Stoxx 600 down 0.2%, DAX -0.8%, CAC 40 -0.2%, while FTSE 100 rose 0.7%.
Brent crude surged over 6% to above $107 per barrel, reversing earlier declines amid heightened fears of Strait of Hormuz supply disruption.
Shell entered advanced talks with Venezuela to develop ~20 trillion cf of gas for LNG, while Ryanair warned of jet‑fuel risks from June.
Gold fell over 2% to $4,655.49/oz and silver dropped 5.2% to $72.11/oz as oil‑driven inflation fears rose.