Oil Surges to Two-Year High on Retail Sales, S&P 500 Recovery

Crude oil surged to a two-year high as U.S. same-store sales jumped the most since April and the Standard & Poor’s 500 Index recovered from its 2008 plunge.

Futures increased 0.5 percent after a private report showed same-store sales climbed 4.2 percent last week. The S&P 500 rebounded to a level not seen since the day before Lehman Brothers Holdings Inc. filed the world’s biggest bankruptcy in September 2008.