Long-dated oil soars

Long-dated oil prices have risen to nearly $100 a barrel, in a sign that investors are expecting high prices to return after the recession. The furthest forward oil contract traded on exchanges – the December 2017 futures – rose last week to $99.97 a barrel for the Brent benchmark and to $99.43 for the WTI, the highest since last October, and prices have risen by 10% in the past month.

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