National Average Price Per Gallon: $3.21
Analysts expect “more volatility” in the oil market.
According to Eelco Hoekstra, CEO of Vopak, traders should expect to see “wild swings” in oil prices as a result of U.S. sanctions against Iran.
Meanwhile, the International Maritime Organization is set to start enforcing new standards to curb emissions from ships such as oil tankers. The move is of great concern to the world’s oil producers, many of which are thought to be ill-prepared to make the changes by the January 1, 2020 deadline.
Framing lumber: $441
Framing lumber trading started to recover for the first time in two months. The price increased only by $1 versus the previous week, but the market nevertheless finished the week with a firm tone.
Structural panel prices showed moderate gains, but overall trading was still slow. The price increased by $5 versus the previous week.
Small business owners are still struggling to find enough skilled workers to fill record numbers of open jobs. 16% report having jobs that they’ve been unable to fill for at least three months.
45% of small business owners blame their difficulties in finding workers on a lack of education and training. Another 28% blame competition from larger companies, while 18% pin the blame on the current low unemployment rate.