Benchmark oil prices surged over $100 a barrel on Monday, with Crude futures rising 16% to $108.50 and US West Texas Intermediate jumping 18% to $108.03. Concerns about supply disruptions, particularly as producers like the UAE and Kuwait reduce output amid geopolitical tensions, have intensified worries about inflation and economic growth. The S&P/ASX 200 index fell 3.3% as energy stocks rose, while coal prices reached a 15-month high due to supply concerns from Qatar.
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