CNBC | US oil closes at $48.31, posts best settle since October CNBC U.S. crude prices hit seven-month highs on Tuesday on expectations of lower U.S. stockpiles and after wildfires threatened anew Canadian oil supplies, but pared some gains due to the potential for higher Libyan output. U.S. crude inventories likely ... Oil prices hit highest level in 7 months US oil hits seven-month high as inventory drop seen; caution over Libya Blame Canada, Nigeria: Oil prices hit 6-month highs |