NEW YORK/LONDON—Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now.
U.S. crude jumped 2.28 percent to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9 percent to $83.98.
