The dollar inched up from a seven-month low hit after U.S. jobs growth in May missed expectations, while sterling fell after the attacks in London that killed at least seven people and wounded 48, just days before Thursday's national election. Oil jumped after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar on Monday, accusing the wealthy Gulf Arab state of supporting terrorism. The coordinated move dramatically escalates a simmering dispute over Qatar's support for the Muslim Brotherhood, the world's oldest Islamist movement, and affects some of the world's biggest oil and gas exporters.

Global benchmark Brent advanced 1.1 percent to $50.48 a barrel. U.S. oil also climbed 1 percent to $48.17. Qatar is the biggest supplier of liquefied natural gas (LNG) and a major seller of condensate - a low-density liquid fuel and refining product derived from natural gas. Geopolitical risks kept Asian stocks subdued on Monday, despite U.S. stocks rising to record highs on Friday.

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