Oil Reaches Two-Year High on Syria as Energy Leads Stock Gains

Oil reached a two-year high amid growing concern there will be an American-led military strike against Syria, while U.S. stocks rebounded following the worst two-day slump since June. Treasuries snapped a four-day advance and European shares declined.

West Texas Intermediate oil added 1 percent to $110.10 a barrel after climbing as much as 3 percent to $112.24. The Standard & Poor’s 500 Index gained 0.3 percent to 1,634.96 as Exxon Mobil Corp. and Chevron Corp. climbed more than 2 percent. The dollar strengthened against 11 of its 16 major peers while the pound climbed from a three-week low versus the euro. Ten-year Treasury yields rose six basis points to 2.77 percent as a sale of five-year debt drew the least demand in four years.