Global Markets: Shares skid as oil surge threatens inflation shock

LONDON/SYDNEY: Share markets fell on Monday as the inflationary ​jolt from surging oil prices threatened to raise living costs and interest rates around the globe, while investors desperate for liquidity fled to the US dollar. Crude oil futures soared almost 30 percent to nearly $120 a barrel, one of its biggest one-day jumps on record, threatening to raise costs of products from gasoline to jet fuel. Brent crude futures were last up nearly 13 percent at $104.5 a barrel, while US futures were up 12 percent at $101.8.

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