European bourses tracked moderately lower midday Monday as traders pondered how higher crude oil prices might impact inflation, and thus central-bank interest rates.

Bank and oil stocks led gains on continental trading floors, while tech and property shares lagged.

Front-month North Sea Brent crude-oil futures were up 5.8% at $91.1 a barrel, in midday trades.

Yields on benchmark 10-year German bonds rose to near 3.31%, testing 15-year highs.

Investors also eyed muted Wall Street futures, and mixed closes overnight on Asian exchanges.

The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.

The Stoxx Europe 600 Technology Index was down 0.6%, but the Stoxx 600 Banks Index gained 0.36%.

The Stoxx Europe 600 Oil and Gas Index rose 0.8%, while the Stoxx 600 Europe Food and Beverage Index was up 0.1%.

The REITE, a European REIT index, fell 0.3%.

On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London gained 0.3%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 lifted 0.3%.

The Euro Stoxx 50 volatility index was up 3.7% at 16.3, indicating below-average volatility for European stock markets in the next 30 days, a positive signal.

A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.