Oil prices have been rising for a long time, but other industrial commodities have lagged behind, reflecting predictions that energy supply constraints will balance any global economic downturn.

Early Monday, U.S. crude climbed more than 2% to a seven-year high of $81.50 a barrel, increasing its year-to-date gain to more than 120% since the end of October. If the rally holds, it will be the first time the US oil benchmark closes over $80 a barrel since October 2014, when the shale revolution triggered a multiyear decline in fossil-fuel prices.

According to Dow Jones Market Data, oil is on course to outperform copper this year by the most since 2002 and is leading a raw materials index by the greatest margin in more than a decade.
Natural gas, like oil, is outperforming other commodities.

Tectonic shift in the US domestic crude oil grades market - Risk.net

Fears of slowing development in China, the world's top commodities consumer and oil importer, have caused several industrial metals to decline. Traders believe that the economic repercussions from China Evergrande Group's probable bankruptcy would amplify the slowdown caused by the Delta form of the coronavirus. Because the Chinese economy relies largely on real-estate developers for development and jobs, this is the case.

On Friday, Brent crude, the worldwide benchmark for oil prices, ended at $82.39 a barrel. In a recent report, Bank of America analysts predicted that if demand rises, Brent might reach $100 this winter. Analysts believe that more price rises will put more pressure on the economy and hamper the Federal Reserve's efforts to gradually raise interest rates beginning next year.