European stock markets are declining Wednesday morning on inflation fears as US Crude Oil hit 7-yr highs.
In London, the FTSE 100 (^FTSE) fell more than 1.2% after opening, trading below the key 7,000 points mark, while the French CAC (^FCHI) tumbled more than 1.3% and the DAX (^GDAXI) was also almost 1.3% lower in Germany.
It came as US Crude Oil reached its highest mark since Y2014, extending its recent rally due to tight supplies, rising demand, and soaring gas prices. European nat gas climbed to new highs Wednesday.
A barrel of US Crude Oil tapped $79.40, while Brent crude (BZ=F) hit a 3-yr high at $83bbl.
Have a prosperous day, Keep the Faith!