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Thursday, March 06, 2008

News You Can Use for Thursday

Oil Advances to a Record $105.96 a Barrel as Dollar Drops to All-Time Low Crude oil rose to a record $105.96 a barrel in New York as the U.S. dollar fell to its lowest ever against the euro.

Copper Rises to All-Time High in London on Weak Dollar, Stockpile Decline Copper rose to a record in London, extending its best start to a year in at least two decades, as a weaker dollar and declining equity markets spurred demand from investors seeking to diversify.

Corn Gains Near to Record on Weak Dollar, Record Oil Cost; Wheat Increases Corn futures in Chicago rose close to a record on speculation the dollar's weakness will increase exports and higher oil costs may boost demand for alternative fuels made from the grain. Soybeans and wheat also jumped.

Wuhan Steel Seeks to Buy Overseas Iron Ore Assets, Eyes Australia, India Wuhan Iron & Steel Group., China's fifth-biggest steelmaker, may buy iron ore assets and build plants overseas, President Deng Qilin said.

Report: World must act on climate change now
In two decades, unchecked environmental damage could leave half the world's population without adequate drinking water, the OECD's secretary general, Angel Gurria, said Wednesday.

XX For my own take on water, read last week's column: The Ultimate Liquid Asset

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