(Corrects Brent and WTI prices) By Rowena Edwards and Rod Nickel LONDON (Reuters) – Oil prices swung higher in volatile trading on Monday, as traders focused on tight supplies over slowing global economic growth. Brent crude futures gained $1.22, or 1.1%, at $114.34 a barrel by 12:47 p.m. Eastern time (1647 GMT). The global benchmark tumbled 7.3% last week for its first weekly fall in five. U.S. West Texas Intermediate crude climbed 61 cents, or 0.5%, to $110.17 in subdued trade on the Juneteenth U.S. holiday. Front-month prices slumped 9.2% last week for the first decline in eight weeks. “We’…