11:58 AM EDT, 03/24/2026 (MT Newswires) -- European markets were trending mostly higher Tuesday as traders weighed conflicting reports about possibilities of an end to fighting in the Persian Gulf, amid renewed bombardments of Middle East nations by Iran.

The Stoxx Europe was gaining 0.5%, the FTSE 100 was rising 0.7%, France's CAC was moving 0.4% higher, while Germany's DAX edged 0.1% lower.

Crude oil futures climbed Tuesday morning after Iran denied holding negotiations with the US, contradicting comments by President Donald Trump and reviving concerns about disruptions to Middle East crude supplies.

Eurozone output growth slows in March as input cost inflation hits highest for over three years, as S&P's preliminary Eurozone PMI Composite Output Index fell to a 10-month low of 50.5 from 51.9 in February.

"The flash Eurozone PMI is ringing stagflation alarm bells as the war in the Middle East drives prices sharply higher while stifling growth," Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said in a statement. "Firms' costs are rising at the fastest rate for over three years amid the surge in energy prices and choking of supply chains resulting from the war."

The front-month global benchmark North Sea Brent crude was up 3.2% at $99.02 per barrel and US West Texas Intermediate crude rose 3.6% to $91.29 per barrel.

Oil and gas stocks rallied in Tuesday trading on sharply rising oil prices as BP and Shell were rising 3.3% and 2.6% respectively in London, while TotalEnergies was increasing 1.5% in Paris. Eni was up 2% in Milan, and Deutsche Rohstoff was rising close to 6% in Frankfurt.

In corporate news, Equinor is seeking to broaden its US shale gas operations after a reorganization of its worldwide assets, Bloomberg News reported Monday, citing an interview with Vice President for International Exploration and Production Philippe Mathieu.

The energy business is primarily exploring opportunities around the Marcellus region to build upon its existing foundation and generate greater portfolio endurance following a multiyear strategy of divesting older properties to fund new investments, the news outlet quoted Mathieu as saying.

Equinor did not immediately respond to MT Newswires' request for comment.

Shares of the Norwegian petroleum refiner was up 2.6% in Oslo.

Ericsson's Vonage said Tuesday it has launched a native integration with ServiceNow Voice, built on the ServiceNow AI Platform.

The company said the integration embeds real-time voice and AI capabilities into ServiceNow's customer service and IT workflows, allowing Vonage Contact Center users to manage calls, automate processes and update case data without leaving the platform.

Shares of the Swedish telecommunications operator were moving 1.6% higher in Stockholm.

Klarna said Tuesday it has increased its existing forward-flow and whole-loan sale agreement with investment funds managed by Elliott Investment Management to $2 billion from $1 billion.

The agreement also extends the term to three years from two, which the company said will allow it to facilitate up to $17 billion worth of US Financing loans during the remainder of the program.

Shares of Klarna were up 3.5% in Frankfurt.