The rally in oil cannot be ignored — here's what it means for stock market investors

U.S. oil prices have climbed to their highest level since late October, as the rally in the key commodity becomes something equity investors cannot afford to look past. West Texas Intermediate crude futures rose modestly Wednesday and at one point breached $86 a barrel, bringing the U.S. oil benchmark's year-to-date gain to 19%. Brent crude also climbed Wednesday and nearly eclipsed $90 a barrel. The global oil standard is up about 16% in 2024.

Working oil pumpjacks are pictured on the outskirts of Taft, Kern County, California on Sept. 21, 2023.U.S. oil prices have climbed to their highest level since late October, as the rally in the key commodity becomes something equity investors cannot afford to look past.

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