Diesel And Lumber Prices – June 11, 2019

Fears of an economic downturn have started to impact oil consumption. As a result, Brent and U.S. West Texas Intermediate crude futures have fallen almost 20% after reaching their 2019 peaks this spring.

“Uncertainty and volatility are set to prevail, and the immediate price outlook remains anything but clear,” said Tamas Varga, senior analyst at PVM Oil Associates.

 

Current diesel national average $3.105 per gallon.

 

Petroleum Prices

 

Diesel and Gasoline (U.S. Averages)

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
Diesel per gallon $3.105 $3.136 -$0.031
Gasoline per gallon $2.732 $2.807 -$0.075

 

 

Crude Oil & Natural Gas

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
West Texas Intermediate Crude
(Nymex)
per barrel $53.41 $52.68 +$0.73
Brent Crude 
(ICE)
per barrel $62.17 $60.69 +$1.48
Natural Gas 
(Nymex)
MMBtu $2.36 $2.42 -$0.06

 

 

Lumber Prices

From Random Lengths: …Prices of framing lumber sagged under the weight of production. Demand strengthened marginally in some markets, but weather continued to stifle activity in others.

 

Framing Lumber & Plywood Products

 

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Lumber – Random Lengths $319 $325 $335 -$6
Panels – Random Lengths $341 $348 $350 -$7
Board Feet (per 1000) $343.30 $313.20 $307.50 $30.10

 

 

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 3.6% 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: EIA, Trading EconomicsBloomberg

 

 


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