Brent crude futures rose to a November 2018 of $73.77 per barrel around 0220 GMT on Monday, up 2.5 percent from their last close.
U.S. West Texas Intermediate (WTI) crude futures rose to a November 2018 high of $65.39 per barrel, up 2.2 percent from their last close.
Asian shares firmed on Monday, with MSCI’s broadest index of Asia-Pacific shares outside Japan little changed in early deals.
“Equities will be looking at further corporate earnings for immediate incentives. While strong economic indicators, particularly from China, have helped sentiment, they have not formed a strong trend,” Soichiro Monji, senior strategist at Sumitomo Mitsui DS Asset Management in Tokyo, told Reuters.
“The U.S.-China trade talks will have to end in one way or another for a trend to form.”
All three major U.S. stock indexes closed in positive territory on Thursday, heading into the three-day weekend.
For the holiday-shortened week, the S&P snapped its three-week winning streak, while the Dow and the Nasdaq posted weekly gains.
Middle East markets
Abu Dhabi’s index gained 1 percent on Sunday lifted by RAK Properties, up 2.7 percent, and Aldar Properties, up 2.1 percent. First Abu Dhabi Bank continued a recent rally to add 1.4 percent.
In Dubai, the index rose 0.2 percent on the back of a strong performance by real estate stocks such as Deyaar, Emaar Development and Emaar Malls which were up 3.7 percent, 2.1 percent and 1.2 percent, respectively.
Saudi Arabia's index gained 0.5 percent, as Alinma and Etihad Etisalat (Mobily) were up 5.3 percent and 4.8 percent.
Qatar's stock market inched up 0.1 percent on financials, as Qatar First Bank rose 1.1 percent, Qatar Islamic Bank gained 0.3 percent and Qatar Insurance company added 1 percent.
Egypt's blue-chip index was down 0.3 percent, with Alexandria Mineral Oils Co SAE shedding 3.6 percent and El Sewedy Electric slipping 2 percent.
Kuwait’s premier market index edged 0.1 percent higher while Bahrain’s index was mainly flat and Oman’s index edged 0.1 percent higher.
The dollar edged lower against a basket of its peers early on Monday.
The dollar index, which measures the greenback against a basket of six major currencies, was slightly lower after booking a 0.4-percent gain last week.
Gold prices edged higher on a weaker dollar.
Spot gold was up 0.1 percent at $1,275.80 per ounce as of 0111 GMT, having touched $1,270.63 in the previous session.
U.S. gold futures were 0.1 percent higher at $1,277.80 an ounce.
(Reporting by Gerard Aoun; Editing by Mily Chakrabarty)
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