SYDNEY (Reuters) -- Oil prices soared and shares sank in hectic trading on Monday as the risk of a U.S. and European ban on Russian products and delays in Iranian talks triggered what was shaping up as a major stagflationary shock for world markets.
Markets
Brent crude hits $130 a barrel; Nikkei plunges
U.S., Europe ban on Russian products and delayed Iran nuclear talks spark fears
Brent was quoted $12.73 higher at $130.84, while U.S. crude rose $9.92 to $125.60. © Reuters
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