Oil hits 2016 high above $40; glut warnings resurface

Oil hits 2016 high above $40; glut warnings resurface

Brent crude rose on Monday, hitting a 2016 peak above $40 a barrel as producers sought a new anchor price for oil after a selloff that has lasted nearly two years, although some analysts warned the global glut is still big.

Oil prices fall on US storage glut, ongoing economic woes

Oil prices fall on US storage glut, ongoing economic woes

Oil prices slid as record US crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile.