New York - Energy stocks led a rally on the stock market as the price of oil turned sharply higher.

The price of oil jumped almost 6 percent Wednesday following a drop in crude inventories last week that was much steeper than analysts were expecting.

Chevron and Exxon Mobil were among the biggest gainers in the Dow Jones industrial average.

Anheuser-Busch InBev jumped 7 percent after the company made a takeover approach to SABMiller, the owner of Miller and Peroni. Other beer makers also rose.... Read More: VIN