FX.co ★ European Stocks Head for Higher Open

European equity markets were poised to open higher on Wednesday as oil prices fell, following an agreement that will allow Iraq to resume crude exports through Turkey’s Ceyhan port. The deal eased fears over supply disruptions tied to the ongoing war in Iran. The United States also intensified diplomatic efforts to secure the reopening of the Strait of Hormuz, although allied governments have so far declined President Donald Trump’s request to join in protecting commercial shipping in the strategic passage. Investors are now awaiting the final Eurozone inflation figures for February, which will be scrutinized ahead of an anticipated interest rate hold by the European Central Bank later this week. No major corporate earnings releases are scheduled in Europe today. In premarket trading, Euro Stoxx 50 futures were up around 0.8%.