Oil bulls began the second quarter where they left off the first — pushing crude sharply higher on signs of tightening supplies and fading worries over global economic growth.
On Monday, West Texas Intermediate crude for May delivery on the New York Mercantile Exchange rose $1.45, or 2.4%, to settle at $61.59 a barrel, its highest close since Nov. 7. The U.S. benchmark logged a 32.4% rise over the first three months of 2019, its strongest quarterly advance since the second quarter of 2009.
The global benchmark, June Brent crude ended $1.43 higher at $69.01 a barrel, a 2.1% gain, on the ICE Europe exchange. Brent logged a roughly 25% quarterly rise, also its strongest since 2009.
Source : Marketwatch