Why the prices of both oil and the metals that seek to replace it are rising
For the first time in a year, oil prices top $60 a barrel
OIL IS MAKING a comeback, at least on the face of it. On February 8th the price of Brent crude rose above $60 a barrel for the first time in more than a year. Battery metals, too, are enjoying a run-up. The prices of cobalt, lithium and some rare-earth metals have soared since late 2020, with copper and nickel enjoying a longer climb. It is tempting to see the surge as evidence of competing bets about the fuels of the future. For both oil and battery metals, the reality is more complex.
This article appeared in the Finance & economics section of the print edition under the headline “Twin peaks”
Finance & economics February 13th 2021
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- Why the prices of both oil and the metals that seek to replace it are rising
- Inflation will rise in the coming months
- European banks need new chiefs
- Lessons in betting against bubbles from the Big Short
- Washing machines reveal how trade and competition are linked
- China leads in precision-guided central banking. Does it work?
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