Diesel And Lumber Prices – May 21, 2019

Oil prices jumped this week after the Saudi Energy Minister indicated that OPEC will continue to limit supply. The energy minister’s comments come after OPEC and its allied oil-producing countries agreed to reduce output by 1.2 million barrels per day for six months starting on January 1, 2019.

Analysts also expect Iranian oil exports to drop further this month, and for output coming out of Venezuela to also drop due to U.S. sanctions.

 

Current diesel national average $3.163 per gallon.

 

Petroleum Prices

 

Diesel and Gasoline (U.S. Averages)

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
Diesel per gallon $3.163 $3.160 -$0.003
Gasoline per gallon $2.852 $2.866 -$0.014

 

 

Crude Oil & Natural Gas

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
West Texas Intermediate Crude
(Nymex)
per barrel $63.36 $61.93 +$1.43
Brent Crude 
(ICE)
per barrel $72.30 $71.61 +$0.69
Natural Gas 
(Nymex)
MMBtu $2.64 $2.66 -$0.02

 

 

Lumber Prices

 

Framing Lumber & Plywood Products

 

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Lumber – Random Lengths $345 $352 $353 -$7
Panels – Random Lengths $352 $353 $353 -$1
Board Feet (per 1000) $313.60 $342.30 $336.70 -$28.70

 

 

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 3.6% 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 EconomicsBloomberg

 

 


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