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  • Crude hits 2016 high

    CNBC's Bertha Coombs reports on West Texas crude hitting over $40 a barrell for the first time in 2016.

  • Oil hits 2016 high

    Discussing oil as it hits new highs and breaks $40, with the Future's Now team.

  • *U.S. crude up 4 pct to above $40, Brent up 3 pct to above $41. NEW YORK, March 17- 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. OPEC kingpin Saudi Arabia and non- OPEC producers led by Russia will...

  • CRUDE FUTURES EXTEND GAINS, RISE ABOVE $40 A BARREL FOR FIRST TIME SINCE EARLY DEC.

  • LONDON, March 17- The oil futures curve is flattening as a wave of bullishness washing across the market raises the price of near-dated contracts faster than that of contracts for deferred delivery. Brent for delivery in May 2016 has risen more than $10 per barrel since early February, while prices for delivery in 2017 are up less than $7 over the same period.

  • A worker looks out onto the weather deck of the Armada gas condensate platform, operated by BG Group Plc, in the North Sea, off the coast of Aberdeen, U.K.

    The U.K. government's forecasting unit has slashed its oil income expectations for the next five years, predicting negative sector tax revenues.

  • Brazil names Lula da Silva chief of staff

    Brazil's current president Dilma Rousseff appoints the former president as her chief of staff.

  • *OPEC, non- OPEC to meet April 17 on output freeze plan. LONDON, March 17- Oil rose above $41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world's biggest producers to meet next month to discuss supporting the market. OPEC and non- OPEC producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar...

  • Expect oil to come up to around $50-55: Olsen

    Norges Bank governor, Øystein Olsen weighs in on the low oil price, and how it impacts employment.

  • Will Russia cut oil output?

    Otilia Dhand, vice president of Teneo Intelligence, discusses Russia's economy and whether OPEC members will cut oil production or not.

  • Oil producers including Gulf OPEC members support holding talks next month on a deal to keep production at current levels, even if Iran declines to participate, OPEC sources said on Wednesday. U.S. crude was up 65 cents at $39.11 a barrel at 0452 GMT, having earlier risen as high as $39.38. Brent crude rose 38 cents to $40.71, after finishing up $1.59, or 4.1 percent, at...

  • Oil worker drilling rig

    Oil prices hit 2016 highs on Thursday, on optimism that major producers will strike an output freeze deal next month.

  • TOKYO, March 17- Oil futures rose 2 percent in Asian trade on Thursday, adding to strong gains in the previous session after the world's biggest suppliers firmed up plans to meet to discuss an output freeze. Oil producers including Gulf OPEC members support holding talks next month on a deal to keep production at current levels even if Iran declines to...

  • TOKYO, March 17- U.S. oil futures rose more than 2 percent in early Asian trade on Thursday, adding to strong gains the previous session after the world's biggest suppliers firmed up plans to meet to discuss freezing output. Oil producers including Gulf OPEC members support holding talks next month on a deal to keep production at current levels even if Iran...

  • Implied volatility in U.S. crude's West Texas Intermediate market fell below 45 percent on Wednesday, down from a seven-year high above 78 percent on Feb. 12 when WTI was trading at around $35 to $26. "Even if you don't necessarily think the market's bottomed, you can have a degree of confidence that we're in a much more sideways pattern, the downward momentum has...

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • LONDON, March 16- Britain's finance minister George Osborne will cut taxes by 1 billion pounds over five years for energy companies pumping oil from the country's North Sea fields, in a boost for an industry suffering low crude prices. Shares in oil companies with fields in the North Sea including BP, Royal Dutch Shell and Cairn Energy rose between 2 and 3 percent,...

  • DOE crude inventory build less than expected

    CNBC's Jackie DeAngelis reports the results of the Department of Energy's weekly petroleum status report.

  • LONDON, March 16- Britain's finance minister George Osborne said he would cut taxes for energy companies pumping oil from the country's North Sea fields, in a boost for the indstry which is suffering from the impact of low crude prices. "I am today cutting in half the Supplementary Charge on oil and gas from 20 percent to 10 percent. Shares in oil companies with...

  • Peabody Energy said it may have to seek Chapter 11 bankruptcy protection after it delayed an interest payment due on Tuesday.