(Oil & Gas 360) – Despite Uncertainty Up High, Maximum Effort To Achieve Peace And Prosperity Has Growth Happening, Needing Good Workers + Ingredients.
The price of WTI crude oil jumping above $90 per barrel, with Epic Fury’s efforts to end decades of oil revenue funding terrorizing, death and destruction, has increased uncertainty. The quick jump in the current month, closing futures oil contract for West Texas Intermediate (WTI) crude oil, above $90 per barrel (Figure 1) is a reminder of the volatility of its high value. Volatility not unusual is also evident in the big, quick drops in 2018 and 2020.
Uncertainty increased is also evident in the 302.90 drop in the S&P 500, since its multi-year rise to its intraday, 7,002.28 January record high. The 2020 Coronavirus Recession dictated dropped the S&P 500 1,201.66 points (35.4%), from its February 19, 2020, 3,393.52 intraday high to its March 23rd, 1201.66 intraday low. Much good happening then powered it to its 7,002.28 intraday, record high January 28 (Figure 2, top line). However, more fear and uncertainty from Operation Epic Fury jumping costs have today’s 6,699.38 close (bold line) down 302.90 (4.3%) from the intraday record high.
Uncertainty increased has also been helped by notable, U.S. monthly employment data downward revisions. 1,094,000 fewer are now employed by establishments in December 2025. The Establishment Survey in the Employment Situation report for February, released March 6, shows nonfarm employment declined 92,000 in February to 158.466 million (Figure 3, red line). An increase was expected. The 130,000-increase reported for January last month was revised down by 4,000 to a 126,000 increase. The 48,000-increase reported for December was revised down 65,000 to a 17,000 decline. The major differences are said to result from the annual benchmarking process and seasonal adjustment updating. Also, 158,432,000 is now December 2025 nonfarm employment, 1,094,000 fewer than the 159,526-estimate released January 10th.
The Population Survey now shows 1,423,000 million fewer employed in January than reported February 11, and 185,000 fewer in February than January. The Current Population Survey of those 16 years and over, reported March 6 shows 162,912,000, 16 years and over employed in February (Figure 4, red line), 185,000 fewer than January. And January is revised down 1,423,000 to 163,097,000, from the 164,520,000 reported February 11th. The revision reflects updated population estimates for the Population Survey. The update was delayed by a month due to the 2025 Federal Government shutdown. Nevertheless, our assessment is that we are seeing greater accuracy plus work taking place on the very much needing to be done and done better.
By oilandgas360.com contributor Michael Smolinksi with Energy Directions
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