European shares slip as oil prices and bond yields surge on Middle East fears

European stocks edged lower on Tuesday as investors priced in higher crude oil and rising euro zone bond yields amid renewed Middle East concerns. The pan-European STOXX 600 was down 0.2% to 654.81 by 0703 GMT. Energy shares rose 0.6% after Brent climbed about 0.6% to $91.41 a barrel. Elsewhere, basic resources fell 1% as Treasury yield gains weighed on demand for gold. Long-dated yields in the euro zone hit multi-year highs, with Germany’s 10-year Bund at its highest since 2011 and France’s 10-year yield at a 16-year peak. Reuters also cited an Iranian shift toward a “fully offensive” posture after U.S.-Iran negotiations stalled.