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(Sharecast News) - European shares were mixed on Tuesday as volatile oil prices jumped above $100 again as Iran hit oil and gas facilities for the first time since the US and Israel started their war on Tehran.
The pan-regional Stoxx 600 index was flat at 0851 GMT. Germany's DAX fell 0.27%, the UK's FTSE 100 was up 0.22%, Spain's IBEX gained 0.26%, France's CAC 40 increased 0.12% and Italy's MIB declined by 0.06%.
The United Arab Emirates said a drone struck the large Shah natural gas field on Monday and set it on fire, with operations still suspended, while a damage assessment was carried out.
An oilfield in Iraq, Majnoon, and the UAE's biggest port and oil storage facility, Fujairah, were also hit by Iranian drones and missiles.
Meanwhile there was a less than enthusiastic global response to US President Donald Trump's demands for allied assistance to protect shipments through the Strait of Hormuz.
European countries on Monday ruled out sending warships to the vital strait, through which 20% of the world's oil is shipped, despite threats from Trump that the Nato alliance of nations faced "a very bad future" if members fail to provide assistance.
Brent crude rose 3.89% to $104 a barrel amid supply fears and the latest attacks as the strait remained closed to the majority of traffic. West Texas intermediate was up 4.3% to $97.52.
"It does look as if $100 per barrel is the anchor for now, with prices kept somewhat in check by hopes that the vital waterway could reopen after several tankers passed through safely over the weekend, and by reports of back-channel talks between the US and Iran," said Hargreaves Lansdown analyst Matt Britzman.
Meanwhile Iran and Iraq were reportedly holding talks about allowing transit of Iraq's oil tankers through the strait of Hormuz, Iraq's oil minister Hayan Abdul-Ghani was quoted as saying by the country's state-run news agency.
"There is communication with Iran regarding allowing the passage of some Iraqi oil tankers," the oil minister said.
On the equities front, Sartorius shares jumped after the German laboratory products and services company set out new midterm growth targets.
Amplifon fell as the Italian hearing aid maker said it was buying GN Hearing, the hearing division of GN Store Nord, in a cash-and-stock transaction valued at approximately 2.3bn.
Reporting by Frank Prenesti for Sharecast.com