Brent crude rose on Monday, to extend gains for the fourth straight day, and climbed above $70 a barrel for the first time since January 2020, after the Yemeni Houthi group attacked oil facilities in Saudi Arabia.

Brent crude rose 2% to the highest since January 2020 at $71.36, after opening at $69.95, and hit a day low at $68.69.

Brent crude futures rose 3.8% on Friday, in the fourth straight daily gain.

Oil prices gained 7.75% during the past week, in the second straight weekly gain, and the largest weekly gain since early February, after the OPEC-Plus decision to extend the current output cuts until April, and Saudi Arabia’s decision to maintain its voluntary cut.

The Saudi Energy Ministry stressed that some of Aramco's oil tanks, in one of the world's largest oil shipping ports, came under missile and drone attack, and a Houthi spokesman claimed responsibility for these attacks.

The ministry stated that these acts not only target Saudi Arabia, but also harms the security and stability of the global oil supply and the global economy.

Gold prices fell on Monday, resuming losses after taking a breather on Friday, and fell again near a 9-month low, due to rising US dollar and the US 10-year Treasury bonds yield.

Gold prices fell 0.8% to $1,689.80 an ounce, after opening at $1,703.43, and hit a day high at $1,714.22.

The yellow metal closed higher by 0.8% on Friday, and posted its first daily gain, within recovery attempts from a 9-month low of $1,687.37.

Gold prices lost 1.9% during the past week, in the third straight weekly loss, due to high US T-bond yields.

The dollar index rose more than 0.3% today, to extend its rally for the fourth day in a row and hit a 4-month high of 92.30 points, which weighs down on dollar-denominated metals prices.

The greenback is being lifted by investors' risk aversion amid renewed concerns about the US bond market, after the new jump in US Treasury bonds yields.

The 10-year yields rose by 3% to extend gains for the fourth straight day, and hit a 13-months high at 1.622%. 

The US Senate officially passed the $1.9 trillion Covid-19 relief package on Saturday, within President Joe Biden's efforts to support the US economy amid the worst economic crisis since the 1930s Great Depression.

Gold stocks at the SPDR ETF fell 9.04 metric tonnes on Friday, with the total at the lowest level since May 1, 2020 at 1,069.26 metric tonnes.

Oil prices rose on Monday, to extend their gains for the fourth straight day as the US crude jumped to its highest level in two and a half years, and Brent crude climbed above $70 a barrel for the first time since January 2020, after the Yemeni Houthi group attacked oil facilities in Saudi Arabia.

US crude 2.5% to the highest level since October 2018 at $67.94, after opening at $66.26, and hit a day low of $65.80, and Brent crude rose 2% to the highest since January 2020 at $71.36, after opening at $69.95, and hit a day low at $68.69.

US crude rose 3.5% on Friday, and Brent crude futures rose 3.8%, in the fourth straight daily gain.

Oil prices gained 7.75% during the past week, in the second straight weekly gain, and the largest weekly gain since early February, after the OPEC-Plus decision to extend the current output cuts until April, and Saudi Arabia’s decision to maintain its voluntary cut.

The Saudi Energy Ministry stressed that some of Aramco's oil tanks, in one of the world's largest oil shipping ports, came under missile and drone attack, and a Houthi spokesman claimed responsibility for these attacks.

The ministry stated that these acts not only target Saudi Arabia, but also harms the security and stability of the global oil supply and the global economy.

USD/JPY tilted higher in Asian trade to near mid-2020 highs, following earlier data from Japan and ahead of US data later today.

As of 07:03 GMT, USD/JPY rose 0.08% to 108.38, with an intraday high at 108.49, and a low at 108.27. 

From Japan, current account surplus fell to 1.5 trillion yen from 2.08 trillion, while bank lending rose 6.2% last month.  

Japan's leading index rose to 99.1 from 95.3, while the current conditions index improved to 41.3 from 31.2. 

From the US, wholesale inventories are expected up 1.3% in January, while the Senate passed President Joe Biden's stimulus package valued at $1.9 trillion for the economy last weekend.