Taiwanese media report that European share indices closed mixed as rising international oil prices brought inflation worries back into view.

Tension surrounding Middle Eastern sea lanes is cited behind the rise. Uncertainty over conditions for passage through the Strait of Hormuz has kept a risk premium in place.

By sector, refining and energy shares advanced while airlines, logistics and consumer stocks, which carry heavy fuel costs, weakened.

Higher crude works in two directions: it raises profits at oil-linked companies while feeding into general prices through manufacturing costs and freight.

For central banks the burden grows. Renewed price increases push back the timing of rate cuts, which affects both equity and bond markets.

In Asia the combination of oil prices and exchange rates is also in focus. South Korea, Taiwan and Japan, which import most of their crude, see higher prices feed directly into trade balances.

Price indicators due next week from major economies are seen as the material for judging direction.