Oil prices continued to rise as the US market opened on Monday, for the fourth day in a row, as US crude jumped to its 7-year peak, and Brent crude rose to its 3-year high, due to concerns over a market deficit while the global demand accelerates, while the market absorbed OPEC-Plus decision to keep output unchanged without any hikes.

US crude rose 1.5% to the highest since October 2014 at $83.71 a barrel, after opening at $82.47, and hit a low at $82.47, and Brent crude rose more than 1.4% to the highest since October 2018 at $86.02 a barrel, after opening at $84.84, and hit a low at $84.84.

The US crude gained 1.3% on Friday, and Brent rose 1%, in the third straight daily gain.

Oil prices gained 3.25% last week, the eighth straight weekly gain, in the largest weekly gains streak since March 2015.

Oil prices are rising due to growing fears over a market deficit, especially after OPEC Plus alliance's recent decision to keep its current production policy without any new production hikes.

Meanwhile, global demand for oil is growing, especially due to the global shifting from gas to oil, after the recent record spike in natural gas prices.

European stocks fell on Monday, on track for the first daily loss in 4 days, while pulling back from month highs, due to profit-taking, and investors' risk aversion due to rising US Treasury bond yields.

The Stoxx Europe 600 index fell more than 0.5% as of 11:10 GMT, after it closed higher by 0.75% on Friday, and hit the highest since September 17 at 469.52 points.

The pan European index gained 2.6% last week, the second straight weekly gain, thanks to upbeat Q3 earnings results.

The retail sector saw the largest loss in Europe today, with a drop of over 1.7%, as most of the sector's shares fell.

The 10-year US Treasury bond rose today by 3%, towards four-month highs, which dampens investors' risk appetite.

The Federal Reserve is expected to start trimming its bonds purchases program next month, with markets pricing a US rate hike in September 2022.

S&P 500 futures fell 0.4% today ahead of Wall Street's opening, after the index closed higher by 0.75% on Friday and posted a 1-month high.

Back to Europe, the Euro Stoxx 50 index fell 0.7%, France's CAC 40 fell 0.8%, Germany's DAX index fell 0.6%, and the UK's FTSE 100 fell more than 0.3%.

Oil prices rose on Monday, for the fourth day in a row, as US crude jumped to its 7-year peak, and Brent crude rose to its 3-year high, due to concerns over a market deficit while the global demand accelerates, while the market absorbed OPEC-Plus decision to keep output unchanged without any hikes.

US crude rose 1.5% to the highest since October 2014 at $83.71 a barrel, after opening at $82.47, and hit a low at $82.47, and Brent crude rose more than 1.4% to the highest since October 2018 at $86.02 a barrel, after opening at $84.84, and hit a low at $84.84.

The US crude gained 1.3% on Friday, and Brent rose 1%, in the third straight daily gain.

Oil prices gained 3.25% last week, the eighth straight weekly gain, in the largest weekly gains streak since March 2015.

Oil prices are rising due to growing fears over a market deficit, especially after OPEC Plus alliance's recent decision to keep its current production policy without any new production hikes.

Meanwhile, global demand for oil is growing, especially due to the global shifting from gas to oil, after the recent record spike in natural gas prices.

Gold prices fell on Monday, for the second straight day, pulling back from a 4-week high due to continued profit-taking and after a rise in the US T-bond yields.

Gold prices fell 0.4% to $1,760.35 an ounce, after opening at $1,767.47, and hit a high of $1,772.11.

Gold closed lower by 1.6% on Friday, the first daily loss in 4 days, due to profit-taking from a 4-week high at $1,800.50 an ounce.

Gold prices rose 0.6% last week, lifted by the halt in the US Treasury bond yield's rally.

The 10-year US Treasury bond rose today by 3.0%, towards four-month highs at 1.636%, bolstering dollar demand.

The Federal Reserve is expected to start trimming its bonds purchases program next month, with markets pricing a US rate hike in September 2022.

Gold stocks at the SPDR ETF fell 2.62 metric tonnes, with the total at the lowest level since April 3, 2020 of 980.10 metric tonnes.