A jump in palm oil consumption for biodiesel in Indonesia, the world’s biggest supplier, will probably mean that shipments fail to increase this year for the first time since 2010 even as production climbs to a record.
In a glass-walled conference room at the California headquarters of Space Exploration Technologies Corp., Chief Executive Officer Elon Musk told Texas officials he was interested in building the world’s first commercial rocket launchpad in their state -- if the state could compete.
Palm oil inventories in Indonesia, the biggest supplier, probably decreased in January to the lowest since June 2012 as production fell for a second month. Futures advanced to the highest since Dec. 9.
New Yorkers are paying record prices for heating this month as cold weather and natural gas restrictions boost demand for oil, draining supplies already at the lowest in more than two decades on the U.S. East Coast.