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US stocks climbed on Monday to close at a record and European equity markets also moved higher as a jump in oil prices helped spur gains in the energy sector.
Brent settled up 4.4 percent at USD 48.90 and US crude settled 3.9 percent higher at USD 47.49 after touching their highest levels in about three weeks as the dollar weakened. Expectations major oil producing countries could reach a deal to limit output at a meeting next week also spurred the jump in oil prices.
Among US equities, the S&P energy index gained 2.2 percent as the top-performing sector, closing at its highest level in 16 months.
