Oil prices rise on supply worries, extend strong Q1 gains
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-US trade talks also boosted sentiment, helping buoy regional stockmarkets.
Brent crude for June delivery was up by 64 cents, or 1 per cent, at $68.22 a barrel by 0606 GMT, having risen 27 per cent in the first quarter.
US West Texas Intermediate (WTI) futures rose 43 cents, or 0.7 per cent, to $60.57 barrel, after posting a rise of 32 per cent in the January-March period.
