European shares were little changed on Thursday as concerns over rising oil prices and persistent inflation offset support from a recovery in global bond markets following intervention by the US Treasury, Reuters reported.The pan-European STOXX 600 index was flat at 651.44 points as of 0708 GMT, with investors weighing renewed pressure from energy markets against improving sentiment in government bonds.US President Donald Trump warned of economic consequences for countries providing support to Iran, as Washington seeks to resolve its conflict with Tehran, which it entered alongside Israel nearly six months ago. The geopolitical uncertainty continued to keep oil prices elevated.Brent crude rose about 0.6% to around $92 a barrel, adding to concerns about fuel costs and the potential impact of higher energy prices on inflation. Travel and leisure stocks declined 0.4%, reflecting their sensitivity to rising fuel expenses.Basic resources was the weakest-performing sector, falling 0.7%. Gold prices retreated as investors took profits following a recent rally that had been supported by lower bond yields and a weaker dollar.According to Reuters, the US Treasury moved to ease pressure in the bond market by increasing purchases of longer-dated debt after yields climbed to multi-year highs. The move helped trigger a recovery across global bond markets after a sharp selloff earlier in the week.Investors have been increasingly concerned about rising government debt levels, while higher oil prices have added another layer of pressure by raising the risk of renewed inflation. The combination has complicated expectations for interest-rate policy across major economies.Germany's DAX underperformed its regional peers, while German borrowing costs climbed to a 15-year high. The rise in yields comes as Berlin faces greater financing requirements linked to increased defence spending, Reuters reported.The move in German bond yields mirrored a broader increase in borrowing costs across major economies, highlighting continued investor concerns about fiscal pressures despite the recent US Treasury intervention.Markets are therefore balancing two competing forces: improving conditions in global bonds following official support and renewed inflation concerns stemming from elevated energy prices and geopolitical tensions.