Oil Price Jumps Above $80 and Natural Gas Races Higher, Turbocharged by Supply Shortages

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Oil Price Jumps Above $80 and Natural Gas Races Higher, Turbocharged by Supply Shortages
France Dernières Nouvelles,France Actualités
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Soaring oil and natural-gas prices are fueling concerns about rising inflation and pressuring policy makers ahead of the Glasgow climate summit

The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets thatU.S. crude rose more than 2% early Monday to a seven-year high of $81.

50 a barrel, bringing its climb since the end of last October to more than 120%. If sustained, it will be the first time the U.S. oil benchmark closes above $80 a barrel since October 2014, when the shale revolution set off a multiyear slump in fossil-fuel prices.

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