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High energy prices raise concerns about a stalled market rally

Gasoline prices are near a seasonal record high following crude oil’s jump to lofty peaks over $120 a barrel, a level not seen since the record price run of 2008, amid concerns over a possibly Iranian supply disruption.

The rise in energy prices is sparking fears that it could derail corporate profits and the market’s recent rally.

David Sowerby, chief market analyst at Loomis Sayles, and Rob Lutts of Cabot Money appeared on CNBC Monday to weigh in on whether higher energy prices could spoil the market’s recent gains.