Diesel And Lumber Prices – July 2, 2019


Source: Sam Meredith, CNBC


 

Russia and other non-OPEC oil-producing countries announced oil supply cuts today. The move, which will last nine months, is designed to strengthen oil prices as the global economy weakens.

OPEC has also agreed to extend production cuts. On Monday, the group announced it will cut oil production through March 2020.

 

Current diesel national average $3.042 per gallon.

 

Petroleum Prices

 

Diesel and Gasoline (U.S. Averages)

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
Diesel per gallon $3.042 $3.043 -$0.001
Gasoline per gallon $2.713 $2.654 +$0.059

 

 

Crude Oil & Natural Gas

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
West Texas Intermediate Crude
(Nymex)
per barrel $58.49 $58.17 +$0.32
Brent Crude 
(ICE)
per barrel $64.57 $65.40 -$0.83
Natural Gas 
(Nymex)
MMBtu $2.26 $2.28 -$0.02

 

 

Lumber Prices


Source: Random Lengths


The frenzied pace of trading in many framing lumber species in recent weeks gave way to a calmer tone.

Structural panel prices gained ground amid mixed trends in overall trading. OSB sales slowed from last week’s rapid pace.

 

 

Framing Lumber & Plywood Products

 

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Lumber – Random Lengths $354 $345 $326 +$9
Panels – Random Lengths $342 $334 $333 +$8
Board Feet (per 1000) $404.60 $394.30 $392.30 $10.30

 

 

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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