Oil and gas names are pushing higher Monday as simultaneous flashpoints in the Middle East and Eastern Europe threaten to squeeze global energy supplies from multiple directions at once.

Oil jumps 4% as US-Iran skirmishes escalate. Mohamed El-Erian warns of 'significant intensification' that could push crude to the mid-$80s.

European stocks fell as oil prices rose amid US-Iran tensions. Crude oil reaching a new all-time high by December 31 at 12.5% YES.