Crude oil futures have come under pressure recently on weather forecasts predicting a warm spell in the north-eastern USA, the world’s largest region in the consumption of heating oil. The prospect of sanctions against major oil producer Iran over its nuclear enrichment plans had buoyed the price, but fears that negotiations could drag on longer before sanctions were imposed helped take some of the heat out of the market.

Tin prices have soared to 20-year highs and beyond on prospects of supply constraints following the Indonesian Government’s decision to clamp down on illegal tin mining. Zinc and nickel remain in demand.

The continuing rehabilitation of civil nuclear power helped maintain interest in uranium, its key feedstock. AIM-quoted Urasia Energy, with stakes in potentially large uranium projects in Kazakhstan, announced plans to merge with Toronto and Jo’burg-quoted SXR Uranium, with interests in South Africa and Canada, to create the second-largest uranium producer in the world, with proven, probable, indicated and inferred reserves of 420 million lbs.

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Other company articles:
Iran takes centre stage			27/02/2007
UrAsia in £2.5bn merger			12/02/2007
Newcomer - UrAsia Energy			25/08/2006