Wall Street closes higher as oil prices finally rebound
(Close): Wall Street ended Monday higher as oil prices finally appeared to be rebounding from their slump.
The Dow Jones closed up 103 points, or 0.6%, at 17,368.
Shares in Chevron rose 3% recovering from a drop earlier in the day, while Exxon Mobile also recovered to close up 2%.
"It looks like the US equities market was taking its cues from oil today," said Jack Ablin, chief investment officer at BMO Private Bank. "We had oil dip below $35 a barrel and then ending up the day higher."
The price of natural gas fell as the US experiences unusually warm winter weather.