While North Dakota has ridden the shale boom to the nation’s lowest unemployment and a rush of activity for local economies, residents with long memories are cautious, having experienced boom-bust cycles in the oil patch in the past.
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‘Take Some Money Off the Table,’ Bankers Say; August Expires Flat
The expiring August contract settled unchanged, but more distant contracts eased although analysts viewing a deteriorating price regime remain optimistic and suggest that if prices should somehow surge pass $5 during the hurricane season or later in the fall, it would be a good time to initiate producer hedging. At the close August remained unchanged at $4.370 and September had fallen 1.3 cents to $4.318. September crude oil faltered $2.19 to $97.40/bbl.
July 28, 2011
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