If you can buy oil cheaper in the fwd and futures markets why bother to drill for it?
Construction outlays rebounded significantly on public outlays and the private residential component. Construction spending jumped 1.1 percent in October after a 0.1 percent dip in September. Market expectations were for a 0.6 percent boost.
October’s increase was led by public outlays which rebounded 2.3 percent after a 1.6 percent fall in September. Private residential spending gained 1.3 percent, following an increase of 0.8 percent the month before.
Private nonresidential construction spending slipped 0.1 percent, following a rise of 0.2 percent in September.
Note that the year over year growth rate is declining, and looks like it isn’t growing as fast this year as last year: