Crude Falls–Here’s Why
New home construction in June was unchanged
at an annual rate of 2.004 million units. Building permits for new housing rose
2.4%. Housing starts have been over 2 million in 8 of the past 12 months. Lumber
closed limit down.
It now looks like Hurricane Emily will miss
drilling rigs and platforms in the Gulf of Mexico; crude oil fell on the news.
The six-to-ten day forecast is for above average
temperatures in the eastern U.S. and normal to above rain in the Midwest.
Coffee made the lowest close in 7 months.
Brice Wightman
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