Copper knocked over the $10,000 per tonne barrier on Thursday while grains and sugar also hovered near peaks as investors bet that supply shortages would keep commodity prices on the boil.
Prospects of global economic recovery boosted industrial metals, sending both copper and tin to peaks, while snowstorms paralysed the bread bowl of the United States and a killer cyclone battered sugar cane fields in Australia.
Brent crude solidified its stance above $100 per barrel after violent clashes in Egypt raised concern of supply disruptions and unrest across the Middle East.
The violence in Egypt overshadowed the fact that the United States, the world's top oil consumer, still had ample supplies.
Brent crude for March rose as much as $1.03 to $103.37 a barrel, the highest intraday price since Sept. 26, 2008, and was up 49 cents at $102.83 at 1125 GMT.
COPPER RALLY
Most investors were bullish on copper extending its rally after breaking through the key $10,000 per tonne level after positive economic data from China, Europe and the United States raised prospects of better than expected global growth.
As supply shortages loomed, benchmark copper on the London Metal Exchange hovered just under $10,000, trading at $9,975 a tonne.
The metal used widely in power and construction closed at $9,945 on Wednesday. Volumes were lower than usual as many Asian markets were closed for holidays.
"In the short term market sentiment does appear to be very strong. But I do think that there will be some volatility around the $10,000 level and that's going to be exacerbated by the Chinese being away from the market," said analyst Yingxi Yu at Barclays Capital.
Not all investors were confident the momentum would be sustained.
"When any traded instrument reaches a psychological level, a nice big round number, it creates a little bit of downside risk," said analyst Charles Kernot at Evolution Securities.
"At some stage we're going to have interest rates going up, because of high and increasing rates of inflation. And from that perspective it's going to become more costly to stay long of commodities."
Sister industrial metal tin, mainly used in solder for electronics, also extended its rally to an all-time peak of $30,920 per tonne.
SNOW STORM LIFTS WHEAT
Wheat prices clung close to their highest levels in nearly 2-1/2 years after the worst winter storm in decades hit the U.S. grain belt on Wednesday, stoking fears for the winter wheat crop.
There were also short-term concerns about shipments to Egypt where ports are struggling to cope with staff shortages and tight fuel supplies. A growing backlog of ships is waiting to discharge as unrest continues to disrupt the economy.
U.S. wheat futures for December delivery edged down 4 cents to $8.59 per bushel after surging more than 3% on Wednesday.
The U.N.'s food price index hit a record in January and recent catastrophic weather around the globe could put more pressure on the cost of food.
Sugar futures edged below the 30-year peaks touched on Wednesday as Cyclone Yasi hammered Australia's main growing areas in Queensland. A key industry body said the storm may have destroyed half the sugar cane crop in Queensland, representing about 15% of the country's crop.
Some analysts said the price impact from the cyclone may be short-lived if the market sees fresh supply from other key growers.
ICE March raw sugar slipped 0.47 cent to 34.84 cents, while London March white sugar shed $1.1 percent to $835.10 per tonne.
Coffee prices climbed in early trading with arabica coffee just below its 13-1/2 year high, underpinned by trucker strikes in Colombia and a shortage of high quality beans.
Tens of thousands of Colombian truckers went on strike after the government eliminated minimum freight rates in the world's top producer of washed Arabica beans, a truckers' association said.
