It's All Good for Construction
but what a day.
Oil settles at lowest levels since early 2009
By Myra P. Saefong and Carla Mozee, MarketWatch Published: Dec 7
Quote:
January West Texas Intermediate crude dropped $2.32, or 5.8%, to settle at $37.65 a barrel on the New York Mercantile Exchange. That was the largest one-day percentage loss since September.
WTI and Brent prices, which each lost about 4.2% last week, haven’t settled at levels this low since February 2009, based on the most-active contracts.
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Oil’s drop below $38 may cause a world of hurt for U.S. shale
By Myra P. Saefong, MarketWatch Published: Dec 7, 2015
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OPEC production could force U.S. shale-oil producers to buckle.
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It's great for consumers which make up about two thirds of the economy.
Last week the price of iron ore dropped below $40 a tonne in Singapore so the cost of steel should continue it's downward path.
In theory at least
With the costs of most "inputs" continuing to drop, a tighter labor market could easily afford to raise pay scales with neutral impact on their overall cost structure. For builders a lower cost of many material inputs could be meaningful.
"Charlie, order the steel for our next building. It's time to build."