CNBC | US oil surges 3.77 pct, posts highest close this year CNBC Oil prices hit new 2016 highs on a smaller-than-expected U.S. crude build and speculation that major oil producers were meeting in Russia in May for another attempt at curtailing output. Moscow, however, denied media reports of such an impending meeting. Oil Rallies as Distillate Stockpiles Shrink Oil up 3 percent on small US crude build, talk of another producer meeting Oil price down again after Kuwaiti workers call off strike |