Oil prices rise on supply worries, extend strong first-quarter gains | Reuters

Oil prices rise on supply worries, extend strong first-quarter gains | Reuters:

Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.

Positive Chinese factory gauges and signs of progress in Sino-U.S. trade talks also boosted sentiment, helping buoy regional stockmarkets.

Brent crude for June delivery was up by 64 cents, or 1 percent, at $68.22 a barrel by 0606 GMT, having risen 27 percent in the first quarter.

U.S. West Texas Intermediate (WTI) futures rose 43 cents, or 0.7 percent, to $60.57 barrel, after posting a rise of 32 percent in the January-March period.