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GLOBAL MARKETS-Brent hits 2016 peak above $40; U.S. stocks gain
Brent was last up $2.08, or 5.4 percent, at $40.80, while U.S. crude rose $1.95, or 5.4 percent, at $37.84 and hit its highest since Jan. 1. Traders said the gains came as investors were rotating more assets into raw materials amid ideas OPEC producers want a higher anchor price after a selloff that has lasted nearly two years.