NEW YORK ( TheStreet) -- The month of July has already seen a surge in oil prices, with markets trading above $102 per barrel. This is the highest level in more than a year, driven largely by conflicts in Egypt, signs of rising summer demand in the U.S., and by falling supply stockpiles. Since June 24, oil has gained nearly $10, and, at this stage, it is important to consider the potential effects this rally will have on consumer spending, stock values and the economy as a whole. Ultimately, with oil trading at its current levels, this year's rally in stocks meets another point of vulnerability.
Oil Surge to Weigh on Stocks, Consumer Spending
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.