WTI crude front-month futures closed above $111/bbl, the highest closing on record since 2014. Meanwhile, ICE Brent closed above $109/bbl.
"Jobs may be a bit modest when we look out over the last couple of years, but pay is telling a different story - that there is still a little bit of tightness in this labor market," ADP chief economist Nela Richardson told reporters Wednesday morning.
High energy prices are kryptonite for the housing market. Affordability, especially for those first-time home buyers, is now an elusive dream until oil prices come down and interest rates come down.
"Fresh food and perishables are almost like the canary in the coal mine," when energy prices go up, according to Vidya Mani, an associate professor at the University of Virginia's Darden School of Business.
Crude oil is a complex mixture of hydrocarbons - molecules made mainly of carbon and hydrogen. Refineries and chemical plants separate and transform these molecules into smaller chemical building blocks known as petrochemicals. Some of the most important petrochemical building blocks include chemicals such as ethylene, propylene and benzene.
From Minnesota to Mississippi we're lifting up our hard working farmers and ranchers and growers and we're putting more money in American pockets. We're going to prove that the golden age of American agriculture is right here and right now.
A friend remarked to me over the weekend about the apocalyptic scenes of fire raging in Tehran. The strike on an oil depot has sent plumes of smoke across Iran's capital. An environmental catastrophe is unfolding, with reports of rain turning black and increasing respiratory problems.
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My career as an agronomist required me to take scientific research and apply that knowledge, to assist farmers by helping them solve problems and increase their farms profitability. The ag industry relies on research to continue to solve the ever-changing problems that farmers face. Today my farm business employs management practices that have come directly from the Lacombe Research and Development Centre, this has improved my farms resilience and profitability.