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European Shares Set to Extend Losing Streak

European shares were set to fall on Thursday, adding to a two-session drop as stocks track losses on Wall Street Wednesday spurred by fears of rising inflation after oil prices soared to a record high.

Financial bookmakers, or spread betters, in London expected Britain's FTSE 100 index to open between 29 and 36 points lower, the German DAX down 55 to 56 points, and the French CAC 40 down 52 to 56 points.

Oil vaulted to a high above $135 on Thursday, extending this month's near 20 percent rally after a steep fall in U.S. crude inventories and the weakening U.S. dollar triggered short covering by investors.