Energy shares also rose, aided by cold weather and a growing belief that the worldwide excess supply of oil was shrinking.

Some analysts estimate it at more than 200 million barrels, the equivalent of four days' worldwide supply.

But in the short term, they said, prices could drop a bit further before rebounding, amid heavy worldwide supplies.

However, any significant mining had ended by 1940, and following the war and an increased worldwide supply, the mines closed.

Mr. Breeze estimated that 1,000 sheep might eventually generate the entire worldwide supply.

Now demand exceeds the worldwide supply of suitable offshore rigs.

Indeed, the long-term worry is that worldwide supply of vehicles is far outstripping demand.

And while worldwide supplies are expected to remain tight into next year, the market's behavior may indicate that the dramatic rally has peaked, the analysts said.

Cotton futures had a strong advance, after the Government reported that worldwide supplies were far below expectations.

By contrast, while overall worldwide supplies have not kept pace with rising demand, current imports are only a bit lower than year-earlier levels.