- Carey takes Australia to 270 in 2nd ODI against England after collapse
- Two Hezbollah leaders killed in Israel's Beirut strike
- Hungary Danube waters reach decade high after Storm Boris
- Bagnaia cuts Martin's MotoGP lead with Emilia-Romagna sprint win
- Jackson double fires Chelsea to victory at woeful West Ham
- Fiji beat Japan to lift Pacific Nations Cup
- Kasatkina to face Haddad Maia in Korea Open final
- S.Africa snowfall closes roads, strands motorists overnight
- Lawyers of women alleging Al-Fayed sex abuse receive over 150 new enquiries
- President Museveni's son backs Ugandan strongman for 7th term
- Norris quickest as Verstappen bounces back in Singapore practice
- Wallabies lament All Blacks' fast start
- Germany's Oktoberfest opens under tight security after attacks
- Environmental protesters block French cruise liner port
- Hezbollah in disarray after Israeli strike kills top commanders
- No place like home: Biden hosts 'Quad' leaders
- One dead, 7 missing as heavy rains trigger floods in central Japan
- Zelensky says no UK, US go-ahead to use long-range missiles
- New Zealand edge Australia 31-28 in Bledisloe Cup thriller
- Japan orders evacuations as heavy rains trigger floods in quake-hit area
- New Zealand pilot freed in Indonesia after 19 months in rebel captivity
- Hezbollah in disarray after Israeli air strike kills top commanders
- Leading climate activist released from Vietnam jail
- Ethiopians struggle with bitter pill of currency reform
- Sri Lanka votes in first poll since economic collapse
- Feminist author warns of abortion disaster if Trump wins US election
- US city of Flint still reeling from water crisis, 10 years on
- Arsenal's mean defence faces acid test to shut out Man City again
- Late surge lifts Thailand's Jeeno to LPGA Queen City lead
- DeChambeau says PGA's Ryder Cup decision 'just the start'
- Alcaraz defeated on Laver Cup debut
- Postecoglou embraces 'struggle' to make Spurs a success
- Nice hand 'ashamed' Saint-Etienne 8-0 Ligue 1 mauling
- Boeing CEO says ending strike 'a top priority'
- Stock markets mostly fall after Fed-fueled rally
- Harris slams Trump for hypocrisy on abortion as US starts voting
- Academy to host first overseas ceremony to honor young filmmakers
- No doctor necessary: US okays nasal spray flu vaccine for self-use
- Gurbaz, birthday boy Rashid lead Afghanistan to 177-run rout of South Africa
- Former delivery man Baldwin leads star names at PGA Championship
- Trump shooting: Secret Service admits complacency
- Can an ambitious Milei make Argentina an AI giant?
- Haiti, its suffering growing, in 'race against time': UN expert
- Ibrahim Aqil, the Hezbollah elite unit commander wanted by the US
- Chinese forward Cui signs NBA contract with Brooklyn Nets
- US Fed dissenter calls for 'measured' pace of rate cuts
- Guardiola tells players to lead change over workload as Kompany demands cap on games
- Norway limits wild salmon fishing as stocks hit new lows
- Top Hezbollah commander killed in Israeli strike on Beirut
- Rotterdam fatal knife attacker suspected of 'terrorist motive'
Oil soars, stocks fall on Russia crude ban talk
Stock markets fell, metals prices hit record highs and oil surged on Monday after the United States raised the prospect of an embargo on Russian crude.
European markets seesawed in afternoon trading, paring back some losses after sharp drops earlier in the day following a four percent fall in Hong Kong.
Wall Street was lower in early trading.
"The catalyst for the overnight fallout were reports that the US and Western allies are considering a ban on Russian oil imports," said Briefing.com analyst Patrick O'Hare.
US Secretary of State Antony Blinken said Sunday that the White House and allies were in talks about banning oil imports from Russia following its invasion of Ukraine.
But German Chancellor Ola Scholz on Monday cautioned against banning Russian oil and gas, saying doing so could put Europe's energy security at risk.
The benchmark Brent North Sea crude oil contract soared to a near 14-year high as it reached $139.13 before cooling to $121.54.
The record high stands at $147.50, achieved in 2008 during the global financial crisis.
European gas prices, meanwhile, struck record peaks on energy supply fears.
Russia is one of the world's biggest crude producers and is also a leading supplier of natural gas.
"As the dust has settled, fear of European bans on Russian oil -- and potential retaliation or follow-up moves in gas or other commodities -- has subsided," said OANDA analyst Craig Erlam.
Commodities have been red hot since Russia's assault on its neighbour, with gold rising above $2,000 an ounce thanks to the metal's status as a haven investment, before falling back to $1,986.
Aluminium, copper and palladium prices kicked off the week with record highs and nickel rocketed by more than 25 percent in value.
"Commodity and energy prices have inevitably been under upward pressure, with escalating sanctions against Russia and the shuttering of some Ukrainian ports driving the search for replacement supplies of crops, metals and energy," noted Richard Hunter, head of markets at Interactive Investor.
Ukraine, one of the world's top wheat producers, has set export restrictions on the crop and other agricultural products, the Interfax Ukraine news agency reported.
The conflict has pushed wheat prices higher as Russia is the world's top exporter of the cereal and Ukraine is the fourth according to US official estimates.
- Stagflation worries -
The surge in prices is handing a headache to central banks, which have already begun removing pandemic-era cash stimulus and are raising interest rates to bring down inflation that stood at the highest levels in decades even before the invasion.
"The current backdrop is also stoking stagflation concerns, with rising inflationary pressure unlikely to be offset by sufficient global economic growth to prevent a stagnant environment," Hunter added.
The International Monetary Fund warned at the weekend that the war and sanctions on Russia would have a "severe impact" on the global economy.
In foreign exchange Monday, the euro sank to the lowest level for almost two years against the dollar, pummelled by fears of sanctions on Russian energy that would hit the eurozone's economic recovery, traders said.
The euro slid 1.1 percent to $1.0806 before recovering slightly later in the day, while the ruble hit a record-low 142.18 against the dollar.
- Key figures around 1445 GMT -
New York - Dow: DOWN 0.4 percent at 33,482.86 points
London - FTSE 100: DOWN 0.1 percent at 6,981.67
Frankfurt - DAX: DOWN 0.5 percent at 13,027.36
Paris - CAC 40: DOWN 0.1 percent at 6,052.90
EURO STOXX 50: UP 0.1 percent at 3,558.09
Tokyo - Nikkei 225: DOWN 2.9 percent at 25,221.41 (close)
Hong Kong - Hang Seng Index: DOWN 3.9 percent at 21,045.21 (close)
Shanghai - Composite: DOWN 2.2 percent at 3,372.86 (close)
Brent North Sea crude: UP 2.9 percent at $121.54 per barrel
West Texas Intermediate: UP 1.2 percent at $117.06 per barrel
Euro/dollar: UP at $1.0891 from $1.0850 Friday
Pound/dollar: DOWN at $1.3159 from $1.3200
Euro/pound: UP at 82.77 pence from 82.18 pence
Dollar/yen: UP at 115.34 yen from 114.78 yen
burs-bcp-lth/cdw
R.Adler--BTB