Diesel And Lumber Prices – April 16, 2019

 

Current diesel national average $3.118 per gallon.
Current diesel national average: $3.118 per gallon.

Tightening oil supplies across the globe have pushed prices of the commodity higher since the beginning of 2019.

But while crude prices are still showing positive momentum, analysts are still worried about volatility in the market.

As of Friday, West Texas Intermediate Crude ended trading fairly flat, up less than 0.5%. Meanwhile, RBC Capital Markets raised its 2019 forecast for Brent Crude to $75.

 

 

Petroleum Prices

 

Diesel and Gasoline (U.S. Averages)

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
Diesel per gallon $3.118 $3.093 +0.025
Gasoline per gallon $2.828 $2.745 +0.083

 

Crude Oil & Natural Gas

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
West Texas Intermediate Crude
(Nymex)
per barrel $63.72 $64.08 -0.36
Brent Crude 
(ICE)
per barrel $71.34 $70.51 +0.83
Natural Gas 
(Nymex)
MMBtu $2.59 $2.69 -0.10

 

 

Lumber Prices

 

Framing Lumber & Plywood Products

 

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Lumber – Random Lengths $353 $358 $360 -$5
Panels – Random Lengths $361 $366 $370 -$5
Board Feet (per 1000) $348 $345.50 $365.70 +2.50

 

 

Latest Jobs Report

The economy added 196,000 jobs in March 2019, which is a big increase compared to February’s disappointing report of only 20,000 jobs added versus the previous month.

The average wage rose 3.2% versus a year ago, to $27.70 per hour.

 

U.S. Unemployment Rates

2019 2018 2017
January 4.0% 4.1% 4.8%
February 3.8% 4.1% 4.7%
March 3.8% 4.1% 4.5%
April 3.9% 4.4%
May 3.8% 4.3%
June 4.0% 4.4%
July 3.9% 4.3%
August 3.9% 4.4%
September 3.7% 3.7%
October 3.7% 4.1%
November 3.7% 4.1%
December 3.9% 4.1%

 

Sources: Random Lengths, EIA, Trading EconomicsBloombergCNBC

 

 


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