Economics
Oil Tops $81 a Barrel for First Time Since May as Equities Rise
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Crude oil surged above $81 a barrel for the first time since May as a rally in global equity markets increased speculation the economy is strengthening.
Oil jumped 3 percent after equities climbed on better-than-expected earnings and as the Institute for Supply Management’s U.S. manufacturing gauge fell less than forecast. The dollar dropped against the euro, boosting the investment appeal of commodities.