National Average Price Per Gallon: $3.26
The Trump administration’s Iran sanctions are set to go into effect in November. Some analysts predict that oil prices will then rise to over $100 per barrel – a level not seen since 2014.
“Now the sanctions threat is real and less than two months in front of us, that will transform the market into much higher prices,” said Fereidun Fesharaki, founder and chairman of consultancy FACTS Global Energy.
Iran is one of the largest oil exporters in the world.
Framing lumber: $453
The price indexes for both framing lumber and structural panels remain unchanged versus the previous week.
Framing lumber sales were slow after the Labor Day weekend, taking many traders by surprise. Meanwhile, structural panel prices fluctuated wildly, and trading was likewise lackadaisical.
Job openings have hit record highs. A Labor Department survey reported 7 million job openings in July.
The “quits” rate – an indication of worker confidence – also hit a record high. That number rose to 3.6 million – a gain of 106,000 versus June.
These numbers reveal that workers who are dissatisfied with their current jobs feel highly confident they will be able to find favorable opportunities with other employers.