Commodities Gain to Six-Month High as Oil Rallies on Syrian Risk
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Commodities rallied to a six-month high, led by a surge in energy prices, on expectations that the U.S. and its allies are on the threshold of launching a military strike against Syria.
The Standard & Poor’s GSCI Spot Index rose as much as 1.9 percent to 675.44, the highest since Feb. 20, and settled at 668.6 at 4 p.m. in New York. West Texas Intermediate crude-oil futures for October delivery climbed as much as 3 percent to $112.24 a barrel, the highest since May 2011, while Brent crude gained as much as 2.6 percent to $117.34 on concern that supplies may be disrupted.