Global Market: European shares dip as oil surge fuels inflation fears ahead of ECB meeting

European shares edged lower with the STOXX 600 down 0.2 percent at 640.45 points as Brent crude surged above 90 dollars a barrel for the first time in a month, driven by US military operations against Iran and reports of tanker disruptions near the Strait of Hormuz. Rising oil prices revived inflation fears, complicating the outlook for central banks ahead of the European Central Bank policy meeting later this week. Energy stocks gained 1.4 percent while travel and leisure fell 1.3 percent, with Ryanair tumbling 4.6 percent after reporting a 34 percent drop in first-quarter profit on higher fuel costs.