Brent prices continued to rise as the US market opened on Monday, extending gains for the sixth straight day and jumped above $60 a barrel for the first time since January 2020, thanks to the OPEC-Plus collation's efforts to balance the market, and hopes about the US stimulus measures.

Brent crude rose 1.1% to the highest since January 2020 at $60.24 a barrel, after opening at $59.58, and hit a low of $59.52.

Brent crude futures rose 0.9% on Friday, in the fifth straight daily gain.

Oil prices gained 9% last week, thanks to signs of economic growth in the US, and improved fuel consumption in the world's largest consumer.

The meeting of OPEC-Plus Joint Ministerial Committee, which is held to review the global output cut agreement, concluded with an agreement to keep the current production levels unchanged until the end of March.

OPEC-Plus agreed on early December to increase output by 500,000 barrels per day starting from January 2021, and agreed to hold a monthly ministerial meeting to review the market situation and adjust production levels accordingly.

Saudi Arabia also announced a voluntary output cut of about one million barrels per day during February and March to balance the market.

US President Joe Biden administration is working with the Congress to push through extra stimulus to quickly overcome the pandemic impact.

European stocks jumped to 3-week high in early trading on Monday, resuming gains after a halt on Friday on profit-taking, while today's gain came thanks to positive market sentiment following Wall Street's record rally.

The Stoxx Europe 600 index rose 0.4% as of 11:50 GMT, and hit the highest since January 21 at 411.80 points, after it closed flat on Friday due to profit-taking after its 4-day rally.

Stoxx Europe gained around 3.5% last week, and posted its second weekly gain in 3 weeks, and the largest weekly gain in 2021, after upbeat corporate earnings.

The energy sector saw the largest gains in Europe today, rising around 1.5%, as oil prices jumped in global markets to 13-month high.

S&P 500 futures rose 0.5%, and jumped to the all-time record high after the index closed higher by 0.4% on Friday at Wall Street and posted new record high of 3,894.56 points.

US President Joe Biden administration is working with the Congress to push through extra stimulus to quickly overcome the pandemic impact.

Back to Europe, the Euro Stoxx 50 index rose 0.5%, France's CAC 40 rose 0.7%, the UK's FTSE 100 added 1.1%, and Germany DAX index rose 0.25%.

Gold prices rose on Monday, to extend recovery for the second straight day from a 2-month low, to hold above the $1,800 barrier on strong retail demand.

Gold prices rose 1.0% to $1,823.09 an ounce, after opening at $1,815.78, and hit a high of $1,807.81.

 The yellow metal gained 1.1% on Friday, and posted the first gain in 4 days, within recovery attempts from a 2-month low at $1,784.94 , as the US dollar fell after disappointing jobs data in the US.

Gold prices lost 1.8% last week, and posted the second straight weekly loss due to the US dollar's rally against its peers.

Gold prices rose this week and continued to recover for the second straight day, thanks to retail demand and bargain hunting after prices fell to a 2-month low, in addition to finding support around the $1,800 barrier.

Gold prices are also lifted by safe-haven demand due to growing doubts about the US economy's recovery, after January's weak jobs report.

Gold stocks at the SPDR ETF fell 3.33 metric tonnes on Friday, with the total at the lowest level since June 12 of 1,156.51 metric tonnes.

Oil prices rose on Monday, extending gains for the sixth straight day, as the US crude hit its 13-month high while Brent jumped above $ 60 a barrel for the first time since January 2020, thanks to the OPEC-Plus collation's efforts to balance the market, and hopes about the US stimulus measures.

US crude rose 1.25% to the highest level since January 2020 at $56.95 a barrel, after opening at $56.95, and hit a low of $56.95, and Brent crude rose 1.1% to the highest since January 2020 at $60.24 a barrel, after opening at $59.58, and hit a low of $59.52.

US crude rose 0.9% on Friday, while Brent crude futures rose 0.9%, in their fifth straight daily gain.

Oil prices gained 9% last week, thanks to signs of economic growth in the US, and improved fuel consumption in the world's largest consumer.

The meeting of OPEC-Plus Joint Ministerial Committee, which is held to review the global output cut agreement, concluded with an agreement to keep the current production levels unchanged until the end of March.

OPEC-Plus agreed on early December to increase output by 500,000 barrels per day starting from January 2021, and agreed to hold a monthly ministerial meeting to review the market situation and adjust production levels accordingly.

Saudi Arabia also announced a voluntary output cut of about one million barrels per day during February and March to balance the market.

US President Joe Biden administration is working with the Congress to push through extra stimulus to quickly overcome the pandemic impact.