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Commodities Briefing 17.Nov 2011

Posted on 17 November 2011 by VRS |  Email |Print

Guy TurnerInvestment in renewable power generation may double to $395 billion a year by 2020, led by growth in offshore wind and solar energy projects, Bloomberg New Energy Finance forecast.

The total may rise further to $460 billion a year in real terms by 2030 from $195 billion last year, according to the research unit of Bloomberg LP. The investments would boost clean energy as a portion of total world generation capacity to 15.7 percent within 20 years from 12.6 percent last year……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Tony HallBrent crude oil may rise to $150 a barrel, Tony Hall, chief investment officer of London-based Duet Commodities Fund, said today at the Commodities Week USA conference in New York.

Duet trades energy, metals and foreign exchange derivatives, according to its website……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Despite a U.S. economy that moves forward at snail’s pace and Europe teetering on the brink of collapse, oil prices surged past $100 a barrel in New York Wednesday.
Feeding the price action was Enbridge’s acquisition of the Seaway Pipeline from ConocoPhillips and its announcement that it would reverse the pipeline’s direction, easing oversupply caused by a bottleneck in Cushing, Okla., the national price point for crude oil……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Oil price will likely remain at current levels at above $100/barrel for “some time” if a new global economic slowdown is averted in the short term, BP chief economist Christof Ruhl said Wednesday.

“There will be a period of muddling through, but the most likely outcome, if the economy is not collapsing, is for oil prices in the current regions for some time to come,” Ruhl told an oil conference in London……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The oil market is tightening and high oil prices are already hurting growth in developing economies and threaten any economic recovery in Europe, the head of the International Energy Agency (IEA) said on Wednesday.

Brent crude has averaged over $111 a barrel this year, up from just over $80 in 2010, adding to manufacturing costs and leaving consumers with less disposable income……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Stockpiles of the cooking oils used to make everything from candy bars to biofuels are declining to the lowest in two generations as farmers fail to keep up with demand expanding at five times the pace of the world population.

Inventories of soybean, rapeseed, sunflower and six other oils will drop to less than 29 days of consumption this year, the fewest since 1975, U.S. Department of Agriculture data show……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The Gas Exporting Countries Forum aims to replicate OPEC’s model of influencing oil prices by managing the supply of natural gas. Its first summit just finished in Doha, Qatar. And guess what? U.S. natural gas prices are still in the toilet.

Founded a decade ago, the GECF has generated headlines but little else in the intervening period. Now it’s true that OPEC was dismissed as having little importance when it was first established in 1960, 13 years before the first Arab oil embargo. But in the GECF’s case, there really is good reason to question how much of an impact it can have on gas prices……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

After nearly three years of soaring prices for rare earth metals, with the cost of some rising nearly thirtyfold, the market is rapidly coming back down. International prices for some light rare earths, like cerium and lanthanum, used in the polishing of flat-screen televisions and the refining of oil, respectively, have fallen as much as two-thirds since August and are still dropping.
Prices have declined by roughly one-third since then for highly magnetic rare earths, like neodymium, needed for products like smartphones, computers and large wind turbines……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Both Platinum and Palladium settled marginally below the previous session’s close following the release of the Johnson Matthey (JM) Platinum 2011 Interim Review on Tuesday.

In line with Barclays own expectations, JM expects both markets to move into surplus this year, by 195koz in platinum and 725koz in palladium (above Barclays own estimates) as growth in supply outpaces healthy demand……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

On Monday, banking giant Goldman Sachs announced it is staying long gold. Due to low real interest rates, slower US economic growth, and rising debt, the bank has also raised its gold forecast for 2012.

The report by Goldman states, “We expect gold prices to continue to climb in 2011 given the current low level of US real interest rates. Further, with our US economics team now forecasting slower US economic growth in 2011 and 2012, we expect US real interest rates to remain lower for longer, supporting higher gold prices through 2012.”…………………………………….Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

So you want to invest like Warren Buffett? Most investors, professional and otherwise, would probably give their right arm to generate the returns that Buffett has over the years. And the good news is investors can easily get their hands on data that show what stocks Buffett’s Berkshire Hathaway owns.

These days, Berkshire has equity stakes in almost 30 companies and with plenty of cash sitting around, that number could easily increase in the coming months……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The Commodities Exchange of Zimbabwe, launched in January this year, is yet to start trading due to funding constraints. Industry and Commerce Permanent Secretary Mrs Abigail Shonhiwa confirmed that the operationalisation of the commodity exchange would be clear only once funding had been secured.

“We will be discussing with potential funders within the next four weeks,” said Mrs Shonhiwa in an interview last week……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The starting bell rings and dozens of traders in green and grey jackets take to the floor of the trading pit, gesturing loudly at screens displaying the prices of commodities in different parts of the world.

The scene is not from Wall Street or the City in London. Instead it is the daily routine at the Ethiopia Commodity Exchange, a three-year old initiative that is helping revolutionise the country’s once limping agricultural sector……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Barack Obama has declared that the emerging economies of China and India must take decisive action to lower emissions if the US is to be a part of any multilateral climate change agreement.

In what could be seen as an early blow to the UN climate change talks in the South African city of Durban later this month, Mr Obama said advanced economies “can’t do this alone”……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

As the eurozone weaves its disastrous spell across the markets, commodities have suffered more twists and turns than a rollercoaster. After soaring to two and a half year highs earlier in the year, oil prices took a steep tumble amid fears for a demand slowdown, while gold slumped from its record high as investors fled the commodities market and copper has shed 8% this month alone.

Economists at Capital Economics expect the escalation of the crisis in the eurozone to contribute to further large falls across almost all commodity prices over the next year or so, bar gold and silver……………………………………..Full Article: Source

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