Views on commodities and energy
Gasoline shortages in North Carolina, Georgia, Tennessee, and parts of Florida have driven some consumers to desperate measures as they hunt for places to fill up. “Some people are even following tankers to the station and then they descend upon the station,” said Randy Bly, a spokesman for the AAA’s Auto Club South Chapter, Rebekah Kebede and Bernie Woodall report.U.S. gasoline inventories shrunk to the lowest level since 1967 after Hurricanes Gustav and Ike shut Gulf Coast oil refineries. Thursday, Energy Secretary Sam Bodman reiterated that the country was not seeking emergency fuel supplies from abroad.
Elsewhere in commodities:
The CFTC is probing the silver market, the wsj.com reports. In May of this year, the CFTC released a report finding no manipulation of the market. Yet Stephen Obie, acting director of the agency’s division of enforcement, tells the Journal the CFTC takes “the threat of manipulation in the futures and options markets very seriously and employ a number of measures to prevent, identify and prosecute it.”
Funding for two iron ore projects in Peru has been delayed because of the global financial crisis, Australian miner Strike Resources Ltd said on its website.