Oil stocks 

  • Crude oil extended gains to settle up at $56.71 a barrel, the highest level so far this year. Earlier, crude briefly hit $57 a barrel for the first time since Christmas Eve. The commodity reversed earlier losses on reports of increased tension in Yemen that could pressure supply. Brent crude extended gains to trade above $64 a barrel.

Crude is the first thing to break out of a range,”  noting that a close above $56 a barrel would likely help stocks

Said “JJ Kinahan” chief strategist at 

TD Ameritrade.