- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- AC Milan fall at Fiorentina after De Gea's penalty heroics
- Lewandowski treble for leaders Barca as Atletico held
- Fresh Israeli strikes hit south Beirut
- Sucic stunner earns Real Sociedad draw against Atletico
- PSG draw with Nice, fail to reclaim top spot in Ligue 1
- Gudmundsson downs AC Milan after De Gea's penalty heroics for Fiorentina
- 'Yes' vote prevails in Kazakhstan nuclear plant vote: TV
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Lewandowski hat-trick powers Liga leaders Barca to Alaves victory
- 'Nothing gets in way of team,' says Celtics' MVP hopeful Tatum
- India maintain Pakistan stranglehold as Windies cruise at Women's T20 World Cup
- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Florida braces for Milton, FEMA head slams 'dangerous' Helene misinformation
- Postecoglou slams 'unacceptable' Spurs after 'terrible' loss at Brighton
- Marmoush double denies Bayern outright Bundesliga top spot
- Rallies worldwide call for Gaza, Lebanon ceasefire
- Maresca hails Chelsea's 'fighting' spirit after draw with 10-man Forest
- New 'Joker' film, a dark musical, tops N.America box office
- Man Utd stalemate keeps Ten Hag in danger, Spurs rocked by Brighton
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Vikings hold off Jets in London to stay unbeaten
- Ahead of attack anniversary, Netanyahu says: 'We will win'
- West Indies cruise to T20 World Cup win over Scotland
- Arshdeep, Chakravarthy help India hammer Bangladesh in T20 opener
- Lewandowski's quickfire hat-trick powers Liga leaders Barca to Alaves victory
- Man Utd fire another blank in Aston Villa stalemate
- Lewandowski treble powers Liga leaders Barca to Alaves victory
- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
- Trump on the stump, Harris hits airwaves in razor-edge US election
- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
Oil and safe havens rally, ruble sinks on Russia sanctions
Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over its invasion of Ukraine, fanning fears about a possible global energy crisis that could further stoke inflation.
Russian President Vladimir Putin's decision to send troops across the border last week has sent shivers through trading floors as investors fret over a protracted war in the resource-rich region.
Adding to the unease among investors was news that Putin had put his nuclear forces on a higher alert in reaction to the latest stiff measures.
Equities rallied Friday and oil dipped as dealers assessed that the punishments imposed on Moscow were light enough to not hit its crucial oil exports -- Russia is the world's third-biggest producer -- at a time when supplies are thin and demand is surging.
But the picture was changed at the weekend, when the United States and European Union said they would exclude some Russian banks from the international bank payments system SWIFT and personally targeted Putin and Foreign Minister Sergei Lavrov.
They also banned all transactions with Russia's central bank, sending the ruble crashing, with Bloomberg saying it was indicated to be nearly 30 percent down in offshore trading Monday. News that the central bank had hiked interest rates to 20 percent helped pared the unit's losses though it was still around 17 percent down.
"Removing some Russian banks from SWIFT could result in a disruption of oil supplies as buyers and sellers try to figure out how to navigate the new rules," Andy Lipow, of Lipow Oil Associates in Houston, noted.
Crude surged, with WTI climbing towards the $100 mark, while Brent bounced back above that level after slipping on Friday.
Other commodities rallied, with wheat, aluminium and nickel also sharply higher.
However, most equity markets recovered from morning selling as traders focus on a planned meeting of Ukraine and Russian officials on the border with Belarus hoping for an easing of the offensive.
Traders will be closely watching a meeting this week of OPEC and other major producers led by Russia, where they will discuss plans for further output.
The group had agreed previously to increase production gradually each month, but the Ukraine crisis could throw those plans into disarray.
Gold and the yen, go-to assets in times of uncertainty, rose, while the dollar was up against all other currencies.
The euro was under pressure owing to Europe's reliance on Russian energy.
The surge in prices is adding to worries about inflation, which is running at a 40-year high in the United States, with central banks already fighting an uphill battle to get it under control.
The conflict is "likely to boost energy prices significantly, resulting in immediate inflationary effects and a large drag on global growth," Silvia Dall'Angelo, senior economist at Federated Hermes, wrote in a note.
"It's fair to say that the crisis increases the room for central banks' policy mistakes."
On equity markets Tokyo, Shanghai, Sydney, Seoul, Mumbai, Manila, Wellington and Bangkok were all up, though there were some losses in Hong Kong and Singapore.
- Key figures around 0710 GMT -
West Texas Intermediate: UP 5.9 percent at $96.95 per barrel
Brent North Sea crude: UP 4.8 percent at $102.62 per barrel
Tokyo - Nikkei 225: UP 0.2 percent at 26,526.82 (close)
Hong Kong - Hang Seng Index: DOWN 0.8 percent at 22,575.16
Shanghai - Composite: UP 0.3 percent at 3,462.31 (close)
Euro/dollar: DOWN at $1.1158 from $1.1271 late Friday
Pound/dollar: DOWN at $1.3367 from $1.3410
Euro/pound: DOWN at 83.47 pence from 84.04 pence
Dollar/yen: DOWN at 115.53 yen from 115.56 yen
New York - Dow: UP 2.5 percent at 34,058.75 (close)
London - FTSE 100: UP 3.9 percent at 7,489.46 (close)
P.Costa--AMWN