National Average Price Per Gallon: $3.22
Sanctions on Iran are set to be reinstated after President Trump said in May that he was pulling the U.S. out of the 2015 nuclear deal.
“Political and economic events are shaping the oil market in a way that they have not shaped for quite some time,” said Tamas Varga, senior analyst at PVM Oil Associates. “The amount of uncertainties surrounding the global supply/demand balance is growing almost by the day.”
Framing lumber: $515
The post-July-holiday price slump continued this week. Buyers shied away from making purchases despite double-digit price cuts not seen in more than a year.
Downward pressure on prices also continued in the structural panel market. Discounts in OSB were even sharper than those seen in plywood products.
The unemployment rate is at a 17-year-low of 3.9%.
Because the job market is so hot for workers, more of them are “ghosting” job interviews and “blowing off” work.
LinkedIn editor-at-large Chip Cutter said such behavior from job seekers and other workers is “starting to feel commonplace.” And hiring managers agree. Many businesses report that 20% to 50% of job applicants and workers are pulling no-shows in some form, forcing firms to modify their hiring practices.
Sources: Random Lengths, EIA, CNB (1), CNBC (2), CNBC (3)
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