Stock markets are anticipated to begin cautiously on Wednesday, amid concern over the US debt ceiling and prior to eurozone inflation figures.

European stock markets are anticipated to begin cautiously on Wednesday, amid concern over the US debt ceiling and prior to the release of the final eurozone inflation numbers for April.

The impending US debt limit deadline, as well as the possibility of a disastrous US debt default, has caused concern in worldwide markets, including among European investors.

Meanwhile, in Europe, the major economic data point for the session will be the final eurozone consumer inflation estimates for April, which are likely to indicate that prices remained high.

In the business sector, UBS will be observed after the Swiss bank disclosed a $17 billion loss from the Credit Suisse merger.

In other developments, Siemens upped its full-year revenue and profit expectations after the German engineering and technology firm outperformed sales forecasts in the second quarter.

Oil prices fell on Wednesday as a surprising increase in oil stocks in the United States created demand concerns in the world's top consumer.

According to statistics from the API, oil stockpiles in the United States increased by roughly 3.6 million barrels in the week ending May 12, instead of the projected decline.

But these losses were restricted since Strategic Petroleum Reserve releases had to be incorporated into the inventory increase, while the decline in petrol and distillates stockpiles indicated improved demand ahead of the summer season.

The Energy Information Administration will release official statistics on oil and product stocks later in the afternoon.

(investing.com, reuters.com)