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Technological changes in the production of solar panels are increasing demand for silver, a phenomenon that is deepening a shortage in the supply of the precious metal, while there is limited opportunity on the horizon to secure additional mining, reports "Bloomberg". Silver, in paste form, is used for the conductive layer on the front and back of silicon solar cells. But the sector is already starting to produce more efficient variants of cells that use much more metal, and this will contribute to increasing the already growing consumption.   Solar power still represents a relatively small portion of total silver demand, but it is growing. According to a report by The Silver Institute, it will account for 14% of consumption this year, up from about 5% in 2014. Much of that growth is coming from China, which is expected to install more solar panels this year than the United States. Demand for silver from the solar industry is growing. Chart: Bloomberg Solar energy is “a great...

Oil prices rose above $75 in international markets on Friday, boosted by signs of a strengthening US economy and a sharp drop in inventories ahead of further supply cuts from Saudi Arabia.  On the London market, the price of a barrel for delivery in September was 82 cents higher in the afternoon than at the close of trading yesterday and amounted to $75.33. Barrels for August delivery traded 52 cents higher at $74.86. On the American market, the price of a barrel increased by 86 cents, to 70.72 dollars.  Traders were encouraged by slightly increased estimates of US economic growth in the first quarter and a sharp fall in inventories last week, by as much as 9.6 million barrels.  The US economy grew by 1.8% in the first quarter, according to the Commerce Department, compared to the same period last year, 0.2 percentage points stronger than previous estimates showed. At the end of 2022, it increased by 0.9 percent.  Prices were also supported by Saudi Arabia's an...