The IBEX 35 index is trading lower today, currently at 18,306.00 points, a drop of 0.41%. This downturn reflects broader European market concerns, primarily driven by escalating geopolitical tensions in the Middle East which have renewed fears over global energy supplies and economic stability. Rising crude oil prices, with Brent crude nearing $97 per barrel due to potential disruptions in the Strait of Hormuz, are also contributing to inflation worries, further compounded by the prospect of more restrictive central bank policies and rising Eurozone government bond yields.