European markets set for lower open as oil prices continue to soar 😔

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European markets are expected to open lower due to cautious investor sentiment influenced by rising oil prices and geopolitical tensions in the Middle East. Major indices like Germany's DAX, FTSE 100, and France's CAC 40 are showing declines. The situation follows losses in Asia and a challenging week for US equity markets, with significant drops in the S&P 500 and Nasdaq 100. Concerns are heightened over potential disruptions in the Strait of Hormuz, a vital oil shipping route, as oil prices surge amid escalating tensions between the US and Iran.