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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Stock market today: Asian shares mostly rise after Wall Street's record rallyAsian shares are mostly rising, encouraged by a record rally on Wall Street. Benchmarks gained Wednesday in Sydney, Seoul and Hong Kong. Tokyo's Nikkei 225 lost morning gains to slip in afternoon trading. Also on investors' minds is the Japanese yen's rise against the U.S.
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Stock market today: Global shares trade mixed despite Wall Street's record rallyGlobal shares are mixed in muted trading as optimism set off by a record rally on Wall Street gradually ran out of momentum.
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