European shares slip -

European stocks slipped on Tuesday after three sessions of gains as gloomy trading in Asia and an unexpected drop in German industrial orders offset a jump in commodity stocks, reports Reuters.

The pan-European STOXX 600 index fell 0.1 per cent, with the automobiles and parts index sliding the most. Worries about supply chain bottlenecks have weighed on the index since it hit 2015 highs in early June.

Data showed orders for German-made goods posted their sharpest slump in May since the first lockdown in 2020, hurt by weaker demand from countries outside the euro zone.

German investor morale data for July and euro zone retail sales numbers for May are due later in the day.

The oil and gas sector rose 0.5 per cent as crude prices hit their highest levels since 2018 after OPEC+ discussions were called off, heightening expectations that supplies will tighten further.

UK-listed oil majors BP and Royal Dutch Shell gained almost 1 per cent each. Miners gained 0.3 per cent on the back of rising metal prices.

"The impact of higher oil prices is largely a transitory one and both sides will likely find some agreements in a few short weeks," Sebastien Galy, senior macro strategist at Nordea Asset Management said.