European bourses tracked moderately lower midday Tuesday as traders weighed rising interest rates and oil prices, and renewed turmoil in the Persian Gulf.

The pan-continental Stoxx Europe 600 Index was off 0.7% mid-session.

Front-month North Sea Brent crude-oil futures were up 4.2% at $92.10 a barrel, in midday trades.

Yields on benchmark 10-year German bonds were higher, near 3.35% and testing 15-year highs.

Oil stocks led gains on continental trading floors, while property and tech shares declined.

Investors also eyed Wall Street futures in the red, and mixed closes overnight on Asian exchanges.

In economic news, the European consumer price index (CPI) rose 3.3% on year in August, up from a 2.9% on-year rate in July, reported Eurostat. Energy bills were cited for the increase.

The Stoxx Europe 600 Technology Index was down 1.4%, and the Stoxx 600 Banks Index lost 0.9%, in midday action.

The Stoxx Europe 600 Oil and Gas Index rose 1%, while the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, fell 1.3%.

On the national market indexes, Germany's DAX was down 1.1%, and the FTSE 100 in London lost 0.8%. The CAC 40 in Paris was down 0.3%, and Spain's IBEX 35 eased 0.8%.

The Euro Stoxx 50 volatility index was up 4.4% at 17.58, still indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.