* Futures up: Dow 132 pts, S&P 17.5 pts, Nasdaq 41.5 pts
By Abhiram Nandakumar
Dec 21 (Reuters) - U.S. stock index futures were sharply higher on Monday, ahead of a holiday-shortened week, while Brent crude hit an 11-year low.
* Trading volumes are expected to be relatively light this week, with U.S. stock markets operating a shortened session on Thursday and closing on Friday for Christmas.
* Crude oil prices have been sliding under continued pressure from global oversupply and tepid demand.
* China will keep its monetary and fiscal policies "accommodative" in 2016 to help support the slowing economy, according to a Reuters report, citing a source with direct knowledge of the annual Central Economic Work Conference.
* Global stocks rose, taking cues from a surge in Asian stocks as investors bought into Chinese blue-chips.
* U.S. stocks closed lower on Friday, on worries ranging from lower crude prices to the global response to the Federal Reserve's interest hike.
* With two weeks left in 2015, the Nasdaq Composite is the only one of the three major indexes in the black, having risen 3.9 percent so far this year. The S&P is down 2.6 percent, while the Dow Jones industrial average is down 3.9 percent.
* Disney shares were up 2.1 percent at $110.11 in premarket trading as "Star Wars: The Force Awakens" shattered box office records with an estimated $517 million in worldwide ticket sales through Sunday.
* Apple was up 1.5 percent at $107.53. The iPhone maker signed a patent-licensing deal with Swedish mobile telecom gear maker Ericsson, ending a year-long dispute.
* Microsoft was up 0.9 percent at $54.60 after a Barron's report on Sunday that the Windows operating system maker's shares could rise 30 percent over the next 18 months.
Futures snapshot at 6:51 a.m. ET:
* Dow e-minis were up 132 points, or 0.78 percent, with 22,191 contracts changing hands.
* S&P 500 e-minis were up 17.5 points, or 0.88 percent, with 136,708 contracts traded.
* Nasdaq 100 e-minis were up 41.5 points, or 0.92 percent, on volume of 21,866 contracts. (Additional reporting by Aastha Agnihotri in Bengaluru; Editing by Saumyadeb Chakrabarty)