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The protracted rise in oil prices is ignoring other industrial commodities, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy.
US crude rose more than 2% Monday morning to reach a seven-year high of $ 81.50 a barrel, bringing its rise since the end of October to more than 120%. If it holds, it will be the first time the U.S. oil benchmark has closed above $ 80 a barrel since October 2014, when the shale revolution triggered a multi-year drop in fossil fuel prices.
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