January 23, 2025

4 min

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Chart of the week: Keep an eye on oil prices

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Chart of the week: Keep an eye on oil prices

Oil has rallied thus far in 2025 to trade near multiweek highs.

Fidelity Active Investor

One of the undersung drivers of the stock market's rally to record highs was the notable drop in oil prices during the second half of 2024. Since December, oil prices have been creeping higher and are now trading at multiweek highs. This has been a boon for energy stocks, which has been the best-performing sector thus far in 2025. But rising oil prices can be a major headwind for most other parts of the market.

Chart shows the price of crude oil for the past year.

Source: FactSet, as of January 22, 2025.

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Past performance is no guarantee of future results.

The energy industries can be significantly affected by fluctuations in energy prices and supply and demand of energy fuels, energy conservation, the success of exploration projects, and tax and other government regulations.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

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