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National Average Price Per Gallon: $3.157
According to BP CFO Brian Gilvary, oil prices have climbed to unsustainable levels and could soon start to fall away from multi-year highs.
Gilvary’s comments came after crude futures approached highs not seen in more than three years. He added that the recent uptick in crude futures was most likely being driven by high global demand and OPEC-led production cuts.
Framing lumber: $506
Panels/plywood: $532
Framing lumber product prices saw solid gains last week, helped by the arrival of higher spring temperatures. The demand spurred mills to quote longer-than-usual shipping times for many products and supplies.
There was a modest increase in the price of plywood, but otherwise the prices of most structural panel products remained unchanged.
According to the Bureau of Labor Statistics, the employment rate has risen for workers over 55 years of age.
As of February, the unemployment rate for workers in this age group was at 3.2%. This is lower than the average unemployment rate of 4.1% across all groups of American workers.
According to Matt Rutledge, a research economist for The Center for Retirement Research at Boston College, workers in this age group are better educated and tend to stay in the workforce longer because they usually enjoy their jobs.
Sources: Random Lengths, EIA, CNBC (1), CNBC (2)
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