European stocks on track for weekly gain as oil prices ease

Sept 25 (Reuters) - European ‌shares inched ​higher ​on Friday and were headed for a weekly gain as oil prices ‌retreated, although investors remained cautious about developments ⁠in the Middle East.

The pan-European STOXX 600 rose ‌0.7% to 640.66 points ‌by 0704 GMT, putting the benchmark on course for its first weekly advance after ​three consecutive weekly losses. Most regional bourses also traded higher.

Oil prices eased after two ⁠sessions of gains, as investors weighed the possibility of a ​US-Iran truce against Iranian President Masoud Pezeshkian's pledge never to surrender and the ​bombing of Saudi Arabia ‌by Houthi rebels. [O/R]

Energy shares were among the top decliners, falling 0.7%.

Airline ⁠stocks, which are sensitive to fuel costs, advanced, with Ryanair and Lufthansa gaining more than 2% ⁠each. Travel stocks and leisure index rose 1.2%.

Separately, German ​consumer sentiment weakened more sharply than expected heading into October, as rising energy prices soured households' income outlook, ‌a survey showed. Germany's benchmark DAX was up 0.6%.

Among individual stocks, ‌Finland's Konecranes climbed 5.1% after the industrial ⁠equipment maker launched a ‌buyback programme and ​raised its financial targets.

(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Sherry ‌Jacob-Phillips)

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