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National Average Price Per Gallon: $3.24
The price of crude oil has pulled back from $74 per barrel to around $70 per barrel.
OPEC recently agreed to increase output by 1 million barrels in order to lower oil prices.
But many analysts think these countries will struggle to add that much supply. Only a handful of OPEC countries have spare capacity.
Framing lumber: $532
Panels/plywood: $520
The Fourth of July and Canada Day holidays slowed lumber trading in a big way, and this week saw only modest recovery from the slump. Traders are generally only placing orders after mills decrease prices.
After several weeks of high demand, trading in structural panel products fell sharply. Price weaknesses gained momentum as supplies of many products outpaced demand.
Unemployment, which has hit a record low of 3.8%, continues to squeeze the job market and make it harder for employers to fill open jobs.
But many businesses are having trouble matching their open jobs with candidates who have the prerequisite skills or experience.
“Sometimes people are looking for skill sets that are really so vast that they sometimes cover more than one area — and what companies need to do is get a little bit more focus, a little bit more granular on the skills they need,” says Dawn Fay, a hiring manager and district president of recruiting agency Robert Half.
Sources: Random Lengths, EIA, CNBC, NPR
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