LONDON — European stocks are expected to open higher on the last trading day of March, a month marked by global geopolitical and economic uncertainty after Russia’s invasion of Ukraine.

The U.K. FTSEindex opens at 7.578, Germany 22 points above DAX 94 points higher at 14,660, France’s CAC 40 up 48 points at 6,763 and Italy’s FTSE MIBData from IG shows that the number of points was 62 higher at 24,778,

March’s market mood was driven by geopolitical uncertainty, rising inflation concerns and other worries. After disappointment at the failure of talks between Russia, Ukraine and find a way to end their conflict, both European and U.S. market traded lower on Wednesday.

Russia said Tuesday it would reduce its military presence in some parts of Ukraine, but several countries — including the U.S. and U.K. — remained skeptical over Moscow’s pledge, and Russian attacks on Ukraine continued Wednesday.

Sentiment is also being affected by oil prices. U.S. crude oil prices rose more than 3% Wednesday Germany warned of potential rationing of natural gas due to disputes with RussiaAnd U.S. crude stockpiles fell.

Overnight, the oil price fell dramatically in Asia during trading hours. However, international benchmarks helped to keep it down. Brent crude futures falling 4.82% to $107.98 per barrel. U.S. crude futures dropped 5.62% to $101.76 per barrel.

U.S. President Joe Biden’s administration is considering a plan to release 1 million barrels of oil per day from the strategic petroleum reserve for about six months, a source told NBC News. Volatility in oil markets has caused a spike in prices worldwide since Russia’s incursion into Ukraine over a month back.

Globally, U.S. stock futuresOvernight trading on Wednesday saw them slightly rise ahead of the end of the quarter and last day of trading. Investors in the United States are still waiting on weekly jobless claims as well as personal income and spending data, which will be released Thursday morning. You are here: Asia-Pacific marketsOvernight, shares were mixed

Upcoming data releases include the fourth quarter U.K. GDP for February and the euro zone unemployment rate. NATO will release its annual report, and OPEC, non-OPEC, and Russian allies will host a ministerial.

— CNBC’s Eustance Huang contributed to this market report.