Diesel And Lumber Prices – May 7, 2019

Last month, Chevron reached an agreement to buy Anadarko Petroleum for $33 billion. The move has set off ripples in the petroleum market. It has also sparked a bidding war for Anadarko between Chevron and Occidental Petroleum, which has put in its own buyout offer to Anadarko.

Chevron has the right to put another offer on the table through Friday. If Chevron does not make a counter offer, or if its revised proposal is rejected, Anadarko must pay Chevron a $1 billion breakup fee.

 

Current diesel national average $3.171 per gallon.

 

Petroleum Prices

 

Diesel and Gasoline (U.S. Averages)

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
Diesel per gallon $3.171 $3.169 +$0.002
Gasoline per gallon $2.897 $2.887 +$0.010

 

 

Crude Oil & Natural Gas

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
West Texas Intermediate Crude
(Nymex)
per barrel $61.40 $63.43 -$3.03
Brent Crude 
(ICE)
per barrel $70.18 $72.59 -$2.41
Natural Gas 
(Nymex)
MMBtu $2.55 $2.58 -$0.03

 

 

Lumber Prices

 

Framing Lumber & Plywood Products

 

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Lumber – Random Lengths $353 $351 $350 +$2
Panels – Random Lengths $353 $354 $357 -$1
Board Feet (per 1000) $336.70 $336.70 $323.60 +0.00

 

 

U.S. Unemployment Rates

 

According to the Bureau of Labor Statistics, employees age 65 and older are currently the fastest-growing segment of the workforce. Labor force participation among this age group expected to his 32% in 2022, up from 20% in 2002.

And according to a Gallup poll, 3  in 4 Americans are actively seeking employment before traditional retirement age, either on a full-time or a part-time basis.

 

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 3.6% 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 (1)CNBC (2)

 

 


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