Why the prices of both oil and the metals that seek to replace it are rising | The Economist

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.

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