European Stocks Close Weak As Oil Rebounds Amid Hormuz Reopening Uncertainty

(RTTNews) - European stocks closed weak on Wednesday as oil prices swung back into positive territory after five successive days of losses. Uncertainty about reopening of the Strait of Hormuz appeared to have contributed to the reversal in trend. After U.S. President Donald Trump's strong message at the UN General Assembly on Tuesday, Iran's President Masoud Pezeshkian, said today that Tehran would never "bend at the knee" in response to external pressure and blamed the US and Israel for global instability. Brent crude futures, which had tumbled to $94.08 a barrel earlier in the day, recovered to over $101 a barrel later on. Investors digested regional PMI data.