Brent crude breaches $100, European stocks tumble

Top headlines:

Market snapshot:

• Brent crude rose 2.7% to $100.55
• WTI crude gained 2.1% to $95.00
• Gold increased 1.1% to $4,403
• US 10-year yields edged up 0.4 basis points to 4.808%
• European equities declined, and S&P 500 futures fell 0.4%
• The Japanese yen outperformed while the New Zealand dollar lagged

No significant news emerged during the European session, with a sparse economic calendar.

Market attention stays fixed on this Friday's US CPI data, along with the ECB's monetary policy decision due tomorrow.

Meanwhile, cautious sentiment persists as oil prices climb further. Brent crude is now testing levels above $100, with WTI crude rising over 2% to touch $95 today.

This keeps bond yields high, with the 10-year Treasury yield at 4.808%. Consequently, equities face additional pressure, as European stocks dropped more than 1% on the day. Germany's DAX fell 1.6%, and France's CAC 40 declined 1.9%.

US futures also weakened, with S&P 500 and Nasdaq futures each losing 0.4%.

In currency markets, the dollar traded mixed with limited moves. EUR/USD inched up 0.1% to 1.1640, while USD/JPY slipped 0.4% to 153.40.

Elsewhere, gold staged a technical rebound to $4,403 today, and silver rose over 1% to $66.46. Bitcoin also edged higher, gaining 0.5% to $78,911.