energy Oil rallies above $40 for the first time since December Add to ...

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For the first time this year, oil has traded above $40 per barrel. The upswing comes amid the prospect of more gradual rate hikes by the U.S. Federal Reserve – and hope for output restraint by top global producers. Oil has surged more than 50 per cent from its February low. And that’s also taken the loonie along for a ride – with the Canadian dollar near its highest level since October. BNN is joined by Omer Esiner, Chief Market Analyst, Commonwealth Foreign Exchange for more.

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