CNBC | Oil tops $55 for first time in 16 months CNBC Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, as optimism spread about the prospect of a tightening market after OPEC members agreed on a landmark deal to cut production last week. Monday's gains take the ... Oil Prices Continue OPEC Rally Oil prices soar to best level in more than a year as OPEC-led bounce resumes Oil Market Turns Upside Down as U.S. Shale Hedges Post-OPEC |