Energy markets soared on Monday on global supply worries as strikes of oil workers in Norway threatened to completely halt oil production of the largest European oil producer. Norway's crude oil output has already fallen by 13% over the last three weeks.
Crude oil advanced as supply disruption from Norway and start of total Iranian oil embargo both weighted down on supply perspectives.
Brent oil surged amid production cuts and potential increase in demand after weaker than expected inflation rate in China created a room for further monetary stimulus.
Natural gas soared after experts updated weather forecasts, calling for abnormally high temperatures in the US next week.
Heating oil rose on supply disruptions from Norway. Weaker US Dollar also fostered the price increase.