Commodity markets across the board surged in trade on Monday on fears of further sanctions on Russia.

Oil prices surged more than 10 percent on. Brent crude traded $12.73 higher at $130.84, while US crude surged $9.92 to $125.60. Having climbed 21 percent last week, Brent crude was further energised by the risk of a ban of Russian oil by the US and Europe.

Other commodities like metals, agri commodities etc all have gained in double digits in the current year itself.

Jonathan Barratt, CIO at Probis Securities in an interview to CNBC-TV18 said he expects metal prices to continue to go up from current levels.

According to Barratt, base metals could see rally another 20 percent from current levels.

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