European stock markets closed significantly lower on Friday as oil prices surged following the lack of progress in talks between leaders regarding the reopening of the Strait of Hormuz. The stalemate sparked renewed concerns that persistent inflationary pressures could stifle global economic growth. In London, the FTSE 100 fell 1.71% to close at 10,195.37. Germany's DAX slumped 2.07% to 23,950.57, and France's CAC 40 dropped 1.61% to 7,952.55. Investors remain cautious as geopolitical tensions and rising energy costs cloud the economic outlook.