On a dark, drizzly November morning, Michael Farmer steps to the pulpit to deliver a stern message to fellow parishioners at St. Helen’s Bishopsgate, an 800-year-old church in the shadow of the London Metal Exchange and in the heart of the City, London’s financial district.
Brent crude and copper may rally as global economic growth led by emerging markets remains adequate to drive an expansion in raw-materials demand, Goldman Sachs Group Inc. said, sticking with forecasts for price gains.
Oil rose for a second day in London after German and French leaders said they’re certain Greece will remain in the euro zone, tempering concern that the region’s debt crisis will damage fuel consumption.
Brent oil’s premium to West Texas Intermediate crude is poised to collapse from the highest level in nine months as strengthening U.S. demand may cut record inventories at the Cushing, Oklahoma, delivery hub.
Corn rose for the first time in three sessions on signs that the highest prices since 2008 have failed to slow demand for ethanol and animal feed. Wheat gained as adverse weather threatened U.S. crops.
James Burton didn’t have a penny invested in gold of the $142.8 billion he managed as chief executive officer of the California Public Employees’ Retirement System in 2002. Why would he? The metal had been in a bear market for two decades.
Oil prices will be “substantially higher” by 2012 as the global stockpile surplus shrinks and excess production capacity drops, according to Goldman Sachs Group Inc. , the most profitable bank in Wall Street history.