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This month, tensions between Russia and Ukraine caused gas prices to hit record levels. Earlier in the week, Brent crude prices rose briefly to more than $96 on Monday, its highest level in over seven years. Oil prices stood at $78 at the beginning of the year. By the...
The pandemic brought many changes to our economy, and the lumber industry is no exception. Lumber prices have been unpredictable since the beginning of the COVID-19 outbreak, and now prices are climbing once again.  Another surge in lumber costs began again in December. Prices saw a sharp decrease from a...
On Friday, the Department of Energy announced that it plans to sell 18 million barrels of oil from the strategic petroleum reserves. The crude oil will be sold on December 17 and the move is part of a plan to relieve pressure on high gasoline prices, thereby reducing them....
Oil mega-giant Chevron announced on Friday that it had its highest free cash flow ever during the third quarter. The San Ramon, California-based oil corporation, also beat expectations for the same period and earned an adjusted share price of $2.96 a share. Analysts had anticipated $2.21 a share. Moreover,...
Natural gas prices have risen more than 180 percent over the past year. By Tuesday mid-morning, the cost of natural gas in the U.S. stood at $6.18 per MMBtu (British thermal units).  Unfortunately, the higher prices couldn’t come at a worse time as the commodity is the most common way...
Supply chains have been hit hard amid the COVID-19 pandemic, adding pressure to many businesses that can’t keep up with consumer demand. But, one retail chain says its supply chains are better than they were this time last year. Home improvement retailer Lowe’s said that it’s even getting holiday...
The U.S. government has requested that OPEC and the organization’s oil-producing allies increase their oil production due to increasing gas prices. The administration is concerned that rising inflation prices will hinder recovery from the pandemic. The White House has also asked regulators to investigate prices at the pump. This past...
The average price of gasoline in the U.S. on Wednesday broke above $3 at $3.008 per gallon, a seven-year high. After Friday’s cyber ransomware attack on the Colonial Pipeline, operations have ceased, creating a situation where gas has risen to its highest level since...
Lumber prices per 1,000 board feet have doubled over the past three months, making it more expensive to build the single-family housing that’s desperately needed. March’s Random Length Lumber Futures showed prices at $1,004.90 per 1,000 board feet on Thursday. It was the first...
Eavor Technologies, a Canadian geothermal startup, announced a $40 million funding round this week, and big oil is getting onboard. Chevron’s Technology Ventures and BP Ventures are some of the startup's backers as oil corporations increase their renewable energy space investments. Eavor said it...