* US stock futures slip after Monday's rebound as oil
prices climb
* Fed, ECB, BOJ, BOE all due to weigh in on economic
outlook this week
* Brent crude above $100 as Trump's call for Hormuz
escorts rebuffed
(Updates throughout for European morning session)
By Harry Robertson and Gregor Stuart Hunter
LONDON/SINGAPORE, March 17 (Reuters) - European stocks
ticked up but U.S. futures dipped on Tuesday as Iran's renewed
attacks on U.S. Gulf allies drove oil prices higher, keeping
investors on edge after a tentative rebound in equities on
Monday and in Asian markets overnight.
Meanwhile, the dollar and U.S. Treasury yields were little
changed as allies rebuffed President Donald Trump's demands to
send warships to escort oil tankers through the key Strait of
Hormuz, and as investors awaited decisions this week from the
world's major central banks.
The pan-European STOXX 600 index slipped in early
trading but was last up 0.3%, while U.S. S&P 500 futures
pointed to a 0.2% fall at the open.
Brent crude oil, the global benchmark, was last up
3.2% at $103.50 a barrel after Iran launched fresh attacks on
the United Arab Emirates on Tuesday.
Operations at the UAE's Shah gas field remained suspended on
Tuesday, while a new attack caused a fire in the key oil export
terminal of Fujairah, highlighting how Tehran is disrupting
energy flows from the region.
Stock markets perked up on Monday as oil prices dipped, on
hopes that shipping flows from the Gulf would improve and as
optimism about artificial intelligence helped boost U.S. tech
companies. The S&P 500 climbed 1%.
Asian shares followed suit overnight, with MSCI's broadest
index of Asia-Pacific shares outside Japan up
1.1%, and South Korea's Kospi up 1.6%.
"U.S. markets pushed higher overnight, but futures are
pointing to a softer start this afternoon, with volatility still
very much in the driver's seat," said Matt Britzman, senior
equity analyst, Hargreaves Lansdown.
After Tuesday's rebound, Brent crude is up more than 40%
since the U.S. and Israeli strikes began, while the S&P 500 is
down around 3%.
CENTRAL BANKS GRAPPLE WITH ENERGY PRICES
The Reserve Bank of Australia voted on Tuesday to hike
interest rates for a second time this year as it grapples with a
renewed bout of inflation, taking its benchmark rate to 4.1%.
It set the tone ahead of the U.S. Federal Reserve on
Wednesday and European Central Bank, Bank of England and Bank of
Japan meetings on Thursday, as they assess the global economic
impact of the Iran war, even though all are expected to stand
pat on policy.
Money market traders now broadly expect just one cut from
the Fed after previously expecting two; that the BoE will likely
remain on hold, after two reductions were formerly anticipated;
and that the ECB will mostly hike rates once or twice after
pricing in the chance of a cut in February.
The Bank for International Settlements on Monday urged
policymakers not to rush reactions to the spike in global energy
prices, calling it a textbook case of when to "look through" a
supply shock.
The yield on the U.S. 10-year Treasury bond was up 1 basis
point at 4.226%, and 26 basis points higher since
the war began. Yields rise as prices fall, and vice versa.
The U.S. dollar index, which measures the currency
against a basket of six peers, was last roughly flat at 99.75
after snapping a four-day streak of gains on Monday.
"We would be surprised if the FOMC (Federal Open Market
Committee) indicated a strong direction on the impact of the
war," said Steve Englander, global head of G10 FX research at
Standard Chartered in New York.
"It has no way of knowing how long the war will last or
whether the biggest response will be on activity or inflation."
The Japanese yen was little changed at 159.09 per
dollar, just shy of the crucial 160 level despite verbal
warnings from the Japanese authorities on Tuesday.