The European STOXX 600 index settled at 516.40 points by 0709 GMT. It is heading for its worst week since September 2 if losses continue.
Oil company shares gained 0.7 percent and are on track to record their best weekly performance in nearly six months. The energy sector sub-index has risen 4.1 percent so far this week and is the only sector to record gains.
The United States is considering whether to support Israeli strikes on Iranian oil facilities in response to Tehran’s missile attack on Israel, which raises concerns about possible disruptions to oil supplies.
Real estate stocks, which are highly sensitive to interest rates, advanced 0.6 percent, helping the index also avoid falling into the red zone.
Among individual stocks, DSV shares jumped 6.6 percent after the Danish transport company raised $5.5 billion from issuing shares to finance part of its acquisition of Schenker.
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