News Summary: Palladium Surges On Supply Concern

The Associated Press

PALLADIUM JUMPS: Palladium surged the most in almost three months after a report predicted that demand for the metal, which is used in catalytic converters for cars, would outstrip supply. The metal advanced 4.6 percent Tuesday.

OIL EDGES LOWER: Oil ended the day modestly lower after the International Energy Agency lowered its forecast for oil demand while also saying that global supplies were growing.

CUP OF JOE: The price of coffee for March delivery tumbled 7 cents, or 4.6 percent, to $1.46 a pound. December wheat slid 6.75 cents to $8.510 a bushel, its third straight decline.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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