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Oil that glisters

机译：闪闪发光的油

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When commodity prices slipped from their giddy highs in May, many observers hailed the beginning of an inevitable correction after four years of rapid ascent. But the markets, it turns out, were simply pausing for breath. On July 14th the price of a barrel of West Texas Intermediate oil reached a new record in nominal terms of $78.40, although it has since fallen a little. Nickel followed, topping $26,000 a tonne for the first time. Even some agricultural commodities are starting to get caught up in the boom. Rapeseed oil, for example, is fetching unprecedented sums. The price of food crops has risen by 40% since the beginning of 2002, although that increase is dwarfed by huge run-ups in the prices of oil and metals, as the left-hand chart shows.
机译：当大宗商品价格从5月份的高位滑落时，许多观察家欢呼经过了四年的快速上升之后不可避免的回调开始。但事实证明，市场只是在喘口气。 7月14日，每桶西德克萨斯中质原油的价格名义上达到了新的记录，为78.40美元，尽管此后有所下降。镍价紧随其后，首次突破每吨26,000美元。甚至一些农产品也开始卷入繁荣期。例如，菜籽油正在取得空前的收益。如左图所示，自2002年初以来，粮食作物的价格已经上涨了40％，尽管与石油和金属价格的大幅上涨相形见。

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