Loan demand was still strong, but financing for large office projects had slowed. Energy activity continued to decline. Rain provided drought relief for farmers and ranchers but was little help for the serious financial stress confronting some producers. Across a wide range of industries, business sentiment regarding the future weakened considerably in recent weeks. Prices Weak international demand continued to add to growing supplies and falling prices for many commodities.
Crude oil is still in heavy supply.
Wholesale gasoline prices have been unchanged, but retail prices have fallen. Pump prices for regular gasoline of 90 cents or less are not uncommon in a few local markets. Prices are declining for oil and gas services and equipment, and equipment is again available in all segments of the industry, after being in short supply a few months ago. Petrochemical prices continued to fall, although contacts expect prices to stabilize at current levels into next year. Prices stabilized for a few plastic products in the early summer, but are still falling for others.