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Oil extends first-quarter gains on tight supply, economic optimism

Updated : April 01, 2019 03:11 PM IST

Brent crude for June delivery was up 96 cents, or 1.42 percent, at $68.54 a barrel by 0900 GMT, having risen 27 percent in the January-March period. US West Texas Intermediate futures rose 56 cents, or 0.93 percent, to $60.70 a barrel, after gaining 32 percent in the first quarter.
Positive Chinese factory gauges and signs of progress in Sino-US trade talks have boosted sentiment, helping to buoy regional stock markets.
The United States and China said they made progress in trade talks that concluded on Friday in Beijing, with Washington saying the negotiations were "candid and constructive" as the world's two largest economies try to resolve their trade war.
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