Oil Diverges From U.S. Stocks by the Most Since 2011
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Oil and American equities are moving in opposite directions by the most in almost two years amid prospects of military intervention in Syria.
The Standard & Poor’s 500 Index slid 1.6 percent to 1,630.48 yesterday while West Texas Intermediate surged 2.9 percent to $109.01 a barrel on the New York Mercantile Exchange. The 4.5 percentage-point divergence was the widest since November 2011, data compiled by Bloomberg show. Crude extended gains today, surging to a two-year high.