CNBC | Oil rallies to 2016 highs, US crude hits $40 on producer meeting CNBC Oil prices hit 2016 highs on Thursday, with U.S. crude piercing the $40 psychological barrier, on optimism that major producers will strike an output freeze deal next month amid soaring gasoline demand in the United States. A weaker dollar after a ... US Oil Prices Climb Above $40 a Barrel Oil prices jump to $40 Oil price rises, bounces back as OPEC mend fences |