Oil surged on Monday amid opening the doors of the Chinese borders, bolstering hopes on the demand and soothed the worries over the slowdown in the economy worldwide.

Brent crude futures edged up by 1.9% at $80.06 per barrel, while U.S. WTI crude advanced by 1.9% at $75.20.

The markets were backed up by the glimmered outlook for eased rate hikes and the greenback retreat, which consequently made the prices of the commodities more appealing for the non-US dollar holders.

The two main gauges plunged above 8% during the previous week, the largest steep for a week in 7 years.

Flights bounced in China after the country reopened the doors of its boarders, recording 9.5% spike since the beginning of the year as reported by Cirium.

But this good news should not be relieving as this improvement could spread the virus in the country, spike the number of the infected cases and negatively impact the chinese economy.

Energy futures saw a dip by the beginning of the year as many ditched the contracts amid concerns over supplies.