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Oil and coal prices surge, rattling U.S. stock market

Investors dump equities as inflation anxiety intensifies

A scene from the New York Stock Exchange on Sept. 28: Traders grapple with the prospect of prolonged, energy-driven inflation.   © AP

NEW YORK -- Fuel prices from crude to coal continue to surge across the globe, fueling concerns that the world is headed into energy-driven inflation and driving investors to seek out safe havens.

North Sea Brent crude, an international benchmark for crude oil prices, temporarily topped $80 a barrel for the first time since October 2018 in London on Tuesday. Back in New York, U.S. West Texas Intermediate crude also hit its highest price since July.

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