NEW YORK/LONDON—Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now. U.S. crude jumped 2.28 percent to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9 percent to $83.98. “Oil prices are likely to continue climbing in the short term,” said Commerzbank analyst Carsten Fritsch. Red-hot energy prices lifted basic materials and energy stocks in the S&P 500 Index, helping Wall Street to shed early losses. The Dow Jones Industrial Average rose 152.82 points, or 0.44 percent, the S&P 500 gained 18.99 points, or 0.43 percent, and the Nasdaq Composite added 64.51 points, or 0.44 percent. The pan-European STOXX 600 index lost 0.08 percent and MSCI’s gauge of stocks across the globe gained 0.41 percent. However, some analysts warned that runaway energy …