Commodity Blog |
| Natural Gas Jumps to Record Price in Year Posted: 13 Nov 2012 05:18 PM PST Natural gas climbed to the highest level in a year on forecast that US inventories will shrink. According to analysts’ prediction, tomorrow’s government report may show decline by 15 billion cubic feet. That would be the earliest seasonal drop of stockpiles since 2007. Demand will likely rise on the forecast of Futures for delivery of natural gas in December jumped as much as $0.169 (4.7 percent) to $3.739 per million British thermal units on NYMEX. That was the biggest gain in six weeks. |
| Dwindling Platinum & Palladium Supply Leads to Higher Prices Posted: 13 Nov 2012 01:11 PM PST Platinum and palladium jumped today on speculations that dwindling supply will lead to a deficit of the metals. Output from South Africa was significantly reduced by workers strikes and wage disagreement. Currently, tensions calmed down, but it is in no way guaranteed that conflicts will not escalate again. Production in Russia also slowed and there are talks that Russian stockpiles are almost gone. Palladium supply is expected to be lowest since 2000 and lag demand by 400,000 — the biggest deficit since 2002. Consumption of palladium will exceed production by 915,000 ounces, most since 2000. Platinum rallied from $1,555.40 to $1,581.25 per troy ounce as of 21:06 GMT on COMEX today, reaching the highest settlement since October 23. Palladium jumped from $602.30 to $634.00 per ounce, the highest spot price since October 19. |
| You are subscribed to email updates from Commodity Blog To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment