Brent crude continued to rise as the US market opened on Monday, to extend gains for the third straight day, and hit a 3-month high, thanks to the OPEC-Plus coalition extension of the output cut agreement to the end of July, and China oil imports rising to the all-time highest record.

Brent crude rose more than 2.3% to the highest since March 6 at $43.40 a barrel, after it opened at $42.42, and hit a low of $41.84.

Brent crude futures rose more than 4.9% on Friday, posting their second straight daily gain, after OPEC announced its meeting.

Oil prices have gained about 11% during the past week, the sixth straight weekly gain, within the longest weekly gains streak since March 2019.

These large weekly gains came thanks to global demand hopes after easing the coronavirus-lockdown, the OPEC-Plus output cut agreement, and the US production falling to the lowest level since 2018.

The OPEC-Plus coalition formally agreed on Saturday to extend the duration of the current output cut that accounts for 10% of global supply to the end of July.

The OPEC-Plus coalition started implementing a global production cut by 9.7 million barrels per day in April, and was secluded to continue until June, to balance the market and support the falling prices due to the Covid-19 crisis.

Saudi Arabia, the world's largest oil exporter, decided to raise the price of its crude July futures at the highest pace in 20 years.

China's imports jumped 19.2% in May, hitting the all-time high, as the fuel demand recovered after relaxing the coronavirus restrictions.

According to the data, China imported 11.296 million bpd in May 2020 vs. 9.84 million in April, and vs. 9.47 million barrels in May 2019.

The US dollar rose against its peers on Monday, extending gains for the second straight day, within its recovery attempts from a 3-month low, after better than expected US jobs data, and the rise of the US 10-year Treasury yields.

The dollar index rose 0.25% to 97.07 points, after it opened at 96.84, and hit an intraday low of 96.71.

The index gained 0.2% on on Friday, posting its first daily gain in 9 days, after it hit earlier a 3-month low of 96.44 points.

The greenback has lost 1.4% during the past week, posting the third straight weekly loss, on slow demand and improved risk-appetite, in addition to protests and riots In the US after the killing of George Floyd.

The US Department of Labor revealed on Friday that the US economy has added more than 2.5 million new jobs in May, beating forecasts of losing 7.7 million jobs, which came after easing the coronavirus restrictions, and raised market hopes of a quick recovery by the world's largest economy. 

The 10-year US Treasury yields rose 1.5% on Monday, to extend the strong gains, based on lower odds for the Federal Reserve to cut interest rates to the negative territory.

Silver prices rose on Monday, rebounding from the 1-week low that was hit on Friday, on better-than-expected Chinese trade balance data that raised hopes for China's recovery from the coronavirus crisis.

Silver prices rose 2.4% to $17.75, after opening at $17.33, and hitting an intraday low of $17.29.

Silver lost 1.6% on Friday, and hit a 1-week low of $17.21, after better than expected US jobs data. 

Silver prices also lost 2.5% during the past week, posting the first weekly loss in 5 weeks, on slow demand for safe havens and improved risk-appetite.

The Chinese trade balance reading for May beat market's expectations, raising investors' hopes for the Chinese economy's quick recovery from the coronavirus impact.

European stocks fell on Monday, pulling back from the 3-month high that was hit on Friday, on profit-taking and weak German data that raised concerns about Europe's largest economy.

The Stoxx Europe 600 index fell 0.3% as of 11:05 GMT, after closing higher by 2.5% and hitting the highest level in 3 months at 375.4 points, which was thanks to hopes of a quick global economic recovery from the coronavirus crisis.

The index has gained more than 6.5% during the past week, posting its third weekly gain in a row, after the ECB decision expand the emergency stimulus program, within its attempts to ease the coronavirus impact. 

The pan European index opened lower today, giving up the 3-month high on profit-taking, with most European markets and sectors seeing red today.

The tech sector saw the largest losses in Europe today, with a drop by 1.5%, on profit-taking after series of strong gains.

Germany's industrial production fell by 17.9% in April, at the worst pace in its history, worse than forecasts of -16.0%, worse than -8.9% in March.

S&P 500 futures rose 0.5%, after the index closed higher by 2.6% on Friday at Wall Street, after better than expected US jobs data for May.

Back to Europe, the Euro Stoxx 50 index fell 0.3%, France's CAC 40 dipped 0.4%, and Germany's DAX fell 0.2%, while the UK's FTSE 100 rose 0.1%.