- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
- 'Broken' news industry faces uncertain future
- On remote Greek island, migratory birds offer climate clues
- Taken from mother by nuns, victim seeks answers as pope visits Belgium
- China cuts amount banks hold in reserve to boost lending
- Hong Kong, Shanghai extend surge as China optimism boosts markets
- Vietnam president reiterates support for Cuba during official visit
- Drought reduces Amazon River in Colombia by as much as 90%: report
- Stay or go? Pacific Islanders face climate's grim choice
- Florida bracing for 'unsurvivable' Hurricane Helene
- Poverty rises to over 52 percent in Milei's Argentina
- Chloe's see-through look may not be for Kamala Harris
- Champagne houses abuzz over English sparkling wine
- Macron, Trudeau pledge to work for 'decarbonized' economies
- Hurricanes, storms, typhoons... Is September wetter than usual?
- China stimulus, tech optimism boost stock markets
- 'Unsurvivable' Hurricane Helene races towards Florida
- Macron meets Trudeau in Canada as both face political setbacks
- South Korea surges in UN innovation index
- Chloe's see-through look may not be for Kamala
- Floods threaten Niger's historic 'gateway to the desert'
Oil surges, equities mostly fall on growing Ukraine fears
Oil prices and safe havens surged Monday while equities mostly fell and 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.
Markets had rallied Friday 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.
"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 heading closer to the $100 mark, while Brent bounced back above that level after slipping on Friday.
Other commodities rallied, with wheat up eight percent, while aluminium and nickel were also sharply higher.
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, Hong Kong, Shanghai, Seoul, Singapore and Bangkok were in negative territory, though there were some gains in Sydney, Manila and Wellington.
- Key figures around 0300 GMT -
West Texas Intermediate: UP 5.1 percent at $96.23 per barrel
Brent North Sea crude: UP 4.3 percent at $102.14 per barrel
Tokyo - Nikkei 225: DOWN 0.3 percent at 26,393.42 (break)
Hong Kong - Hang Seng Index: DOWN 1.0 percent at 22,537.21
Shanghai - Composite: DOWN 0.2 percent at 3,445.92
Euro/dollar: DOWN at $1.1165 from $1.1271 late Friday
Pound/dollar: DOWN at $1.3359 from $1.3410
Euro/pound: DOWN at 83.57 pence from 84.04 pence
Dollar/yen: DOWN at 115.47 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)
O.Ignatyev--CPN