Commodities setting records? Or is liquidity drying up?

International Expansion reads stories like the one below and wonders if the real story isn't rather lack of liquidity. 

Oil Rises to 25-Month High as Commodities Gain, Gold at Record

By Margot Habiby

Nov. 8 (Bloomberg) -- Oil edged up to its highest level since October 2008, carried by advances in other commodities including precious metals.

Futures rose for a sixth day as gold prices rallied to a record and silver reached a 30-year high. Oil and precious metals strengthened as traders lost confidence in holding currencies as an investment.

Oil “is getting some inspiration from other markets,” said Phil Flynn, a Chicago-based analyst and trader with investment adviser PFGBest. “Oil is following gold and the other commodities.”

Crude for December delivery rose 21 cents to $87.06 a barrel on the New York Mercantile Exchange, the highest settlement price since Oct. 8, 2008. Oil has gained 12 percent in the past year. Prices jumped 6.7 percent last week, the most since February.