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Union Jack Oil

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

Oil rose on Monday, building on its largest first-quarter gains in nearly a decade, as tight supply and positive signs for the global economy supported prices.

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.

U.S. West Texas Intermediate futures rose 56 cents, or 0.93 percent, to $60.70 a barrel, after gaining 32 percent in the first quarter.

Union Jack Oil (LON:UJO), The directors believe that significant opportunities exist to invest in, or acquire, a company or companies or businesses or assets in the hydrocarbon sector.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.