Global shares rose for the 11th day in a row to reach a fresh peak on optimism about the implementation of COVID-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.
As more people are vaccinated across key markets like the United States, and with U.S. President Joe Biden looking to pump an extra $1.9 trillion in stimulus into the economy, the so-called reflation trade has gathered steam in recent days.
On Friday, the Cboe Volatility Index, known as Wall Street's "fear gauge", ended at its lowest level for nearly a year, helping to drive a 0.4% gain for American finance company MSCI's broadest measure of world stocks on Monday.
Brent crude rose 1.2% to $63.15 a barrel.
U.S. crude oil gained 1.2% to $60.21, just off earlier highs.