Oil surged to a seven-week high in New York as U.S. lawmakers negotiated the size of a potential spending bill to boost economic recovery, presenting a rare bright spot for the demand outlook. U.S. crude futures rose above $41 a barrel amid optimism that lawmakers may break a months-long impasse in stimulus talks. House Speaker Nancy Pelosi said a bill for a compromise stimulus package is being written as she awaits a key phone call with Treasury Secretary Steven Mnuchin. Still, any deal may face stiff opposition in the Senate. Prices also strengthened on expectations that U.S. crude stockpiles fell for a second week. “Anything that helps the economy do better is going to be helpful for crude,” said Bill O’Grady, executive vice president at Confluence Investment Management in St. Louis. “Still, driving activity is down and people […]