US STOCKS-Energy, materials lead Wall St gains as oil jumps
* Oil prices up more than 5 percent
* Lumber Liquidators sinks after report
* Indexes up: Dow 1.09 pct, S&P 1.19 pct, Nasdaq 1.15 pct (Updates to open)
By Abhiram Nandakumar
Feb 22 (Reuters) - Wall Street was higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets.
Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall.
Prices of industrial metals such as Copper and Zinc were also up as investors worried about potential shortages.
Still, oil prices are hovering near levels last seen in 2003, with investors weighing the impact of a potential wave of defaults from energy companies on the financial sector.
Chevron's 1.4 percent rise provided the biggest boost to the energy sector. Continuación...