European equity markets were positioned for a muted start Monday as higher oil prices intensified concerns about inflation and interest rates. Oil surged after President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, while Tehran said it would not soften its conditions for reopening the strategic waterway. Global bond yields also rose as inflation risks increased and expectations grew for further monetary policy tightening. With no major European economic or corporate earnings releases scheduled for Monday, investors are focused on preliminary regional inflation data later this week, alongside unemployment figures for the Eurozone, Germany, France, Italy and Spain. Euro Stoxx 50 and Stoxx 600 futures were flat to slightly higher in premarket trading.