European shares edge higher as oil falls; Nvidia earnings in focus

European shares inched higher on Wednesday, supported by falling oil prices that dragged bond yields lower and fed optimism that the Strait of Hormuz could reopen soon. The pan-European STOXX 600 rose 0.1% to 657.34 around 0703 GMT, with basic resources up 0.9%. Energy was the weak spot: the energy index fell 1.1% after Brent crude futures dropped for a third straight day, down more than 2% to about $86 a barrel. Iran restarted talks with Oman on managing the strait. Investors also turned to Nvidia’s second-quarter earnings and a key U.S. inflation report for clues on the Fed’s rate path.