Futures Movers: Oil surges to nearly 5-month high on tightening supply, fading worries over global growth

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 CLK9, +2.43% 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.

Read:Despite big first-quarter rally, stocks still lag other assets in making up lost ground

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