<span>STORY: From airlines to oil, global stocks plunged again on Monday as the U.S.-Israeli war against Iran shows no signs of slowing down.</span><span>European stocks fell to their lowest in more than two months as soaring oil prices heightened inflation concerns.</span><span>The pan-European benchmark index fell for a third consecutive session, falling 2.3% in early trading. </span><span>The index fell 5.5% last week, its worst week in nearly a year.</span><span>In early European trading, oil prices retreated from earlier highs but were still up more than 15% to reach their highest level since mid-2022.</span><span>That comes as some major producers cut supply and concerns about prolonged shipping disruptions hang over the market.</span><span>Brent crude oil futures rose more than 16% in early trading and were on track to record their largest single-day gain.</span><span>Disruptions to tanker traffic and rising safety risks have slowed shipping activity.</span><span>Asian buyers who rely on Middle Eastern crude are particularly vulnerable as the crisis unfolds around the Strait of Hormuz.</span><span>About one-fifth of the world’s oil supplies pass through the strait.</span><span>In Europe, bank shares, which were at the center of last week’s selloff, extended losses, falling 3.2%.</span><span>In terms of airlines, Lufthansa and Air France-KLM fell 3.9% and 5.2% respectively.</span><span>On the other hand, rising crude oil prices pushed energy and defense stocks higher.</span>
