Crude Falls Below $35 per Barrel in New York for First Time Since 2009
- House Democrats said to be open to lifting crude restrictions
- WTI-Brent crude spread narrows to smallest since January
Citi's Ed Morse Sees WTI Crude at $55 by End of 2016
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Crude climbed a second day after tumbling to a six-year low amid signs the U.S. may allow unfettered exports for the first time in 40 years.
West Texas Intermediate rose 2.8 percent, adding to Monday’s 1.9 percent gain amid a broader rally of U.S. and European stocks. House Democrats are open to lifting the ban on American crude exports if they get adequate concessions in exchange, a Democratic leadership aide said Monday. U.S. crude supplies probably fell last week, according to a Bloomberg survey before government data on Wednesday.