U.S. crude oil hit a 2019 high on Monday and Brent gained a dollar after tight supply and positive signs for the global economy drove both benchmarks’ largest first-quarter gains in nearly a decade.
U.S. West Texas Intermediate (WTI) futures were up 57 cents, or 0.95 percent, at $60.71 by 1325 GMT, after briefly reaching their highest in more than four months at $60.92. WTI gained 32 percent in the first quarter.
Brent crude for June delivery was up 86 cents, or 1.3 percent, at $68.44 after rising by more than a dollar in earlier trading and gained 27 percent in the January-March period.
Positive Chinese factory gauges and signs of progress in Sino-U.S. trade talks have boosted sentiment, helping to buoy regional stock markets.
via Reuters
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Alfonso Esparza