The price of oil has clocked its biggest single-day gain in six years – with Brent crude surging by more than 20% to $114 (£85) a barrel.
It comes as investor uncertainty surrounding the war in Iran deepens, with fears growing of a prolonged conflict across the Middle East.
Stock markets across Asia also fell early on Monday – with South Korea’s KOSPI index plunging by more than 6%.
The sudden drop meant an emergency circuit breaker was activated that halted trading for 20 minutes.
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