• Oil rises and continues strong first quarter gains



    TOKYO (Reuters)


    Oil prices rose today, boosting first-quarter gains when benchmarking materials increased their biggest gains in nearly a decade with concerns over supply over concerns about a slowing global economy.

    Confidence was also boosted by positive signs of Chinese factory performance and signs of progress in China-US trade talks, raising regional equity markets.

    By 0660 GMT, Brent crude for June delivery was up 64 cents, or 1 percent, to $ 68.22 a barrel, after rising 27 cents in the first quarter.

    US crude futures rose 43 cents, or 0.7 percent, to $ 60.57 a barrel, after a 32-cent gain from January to March.

    The US sanctions on Iran and Venezuela, OPEC supply cuts and other major producers have helped to support prices this year, which was more profound than concerns about global growth and the US-China trade war.​

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