Diesel And Lumber Prices – July 9, 2019


Source: CNBC


 

OPEC supply cuts outweighed downward pressures on the global economy last week, leading to a rise in oil prices.

Oil prices were also helped by reports that are expected to show a drop in U.S. crude inventories.

 

Current diesel national average $3.055 per gallon.

 

Petroleum Prices

 

Diesel and Gasoline (U.S. Averages)

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
Diesel per gallon $3.055 $3.042 +$0.013
Gasoline per gallon $2.743 $2.713 +$0.030

 

 

Crude Oil & Natural Gas

 

Units Current Price 1 Week Ago Change vs. 1 Week Ago
West Texas Intermediate Crude
(Nymex)
per barrel $57.74 $58.49 -$0.75
Brent Crude 
(ICE)
per barrel $64.29 $64.57 -$0.28
Natural Gas 
(Nymex)
MMBtu $2.38 $2.26 +$0.12

 

 

Lumber Prices


Source: Random Lengths


From Random Lengths: Sales of framing lumber geared down, as buyers had covered many of their needs prior to the holiday-shortened week.

Structural panel prices were firm to stronger amid a mixed trading pace.

 

 

Framing Lumber & Plywood Products

 

Current 1 Week Ago 2 Weeks Ago Change vs. 1 Week Ago
Lumber – Random Lengths $359 $354 $345 +$5
Panels – Random Lengths $344 $342 $334 +$2
Board Feet (per 1000) $379.40 $404.60 $394.30 -$25.20

 

 

U.S. Unemployment Rates


Source: CNBC


The economy added 224,000 jobs in June, which was well above the market expectation of 165,000.

And while the unemployment rate did rise slightly to 3.7%, this number is still at a near 50-year low.

Transportation and warehousing saw job gains of 24.000. Construction added 21,000 jobs, and manufacturing beat expectations by adding 17,000 jobs.

 

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 3.7% 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 Economics, Bloomberg, Random Lengths

 

 


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