On March 11, European stock markets are attempting to maintain positive territory despite ongoing geopolitical tensions, particularly in the Strait of Hormuz, where a conflict in Iran has now reached its twelfth day. According to the Wall Street Journal, the International Energy Agency (IEA) is weighing a historic release of over 180 million barrels of strategic oil reserves to mitigate rising fuel prices and avert an inflationary surge. This potential strategic move comes as fuel costs are under pressure due to the ongoing conflict and its impact on global oil supply.

European indices are reflecting this unease, with significant declines across major markets. The Paris Cac has dropped by 1%, the Frankfurt Dax by 1.5%, the Amsterdam Aex by 0.7%, and the London Ftse 100 by 0.9%. While Madrid's Ibex has fared slightly better with a decline of 0.4%, the overall sentiment in the market is bearish as investors remain anxious about the implications of the geopolitical crisis on the global economy and oil prices.

The Milan stock exchange has been hit particularly hard, with the Ftse Mib index down 1.23% at 44,646 points. Despite some companies like Mediobanca and MPS showing gains, the broader market decline indicates a lack of confidence among investors. Notably, Unicredit and Leonardo have seen declines of 2.5% and 2.82%, respectively. With Brent crude prices surpassing 90 euros, the rising cost of oil is likely to further strain consumer and economic sentiment in Europe.