National Average Diesel Price Per Gallon: $2.98
OPEC Secretary General Mohammed Barkindo has expressed concern over the effect of the U.S.-China trade war on market growth in Asia. “Any measures that may impact or constrain trade may likely impact on growth and by extension on demand for energy,” he said.
China is currently the world’s largest importer of crude. But according to a recent report by energy consultancy Wood Mackenzie, India is set to become the country with the largest demand for oil by 2024.
Framing lumber: $327
The first full workweek of the year generated more interest from traders in framing lumber purchases. But price trends were mixed, and demand for key lumber products lagged. This led to an index price drop of $2 versus the previous week.
Structural panel pricing was also mixed. Even though the index rose by $1 versus the previous week, dull trading left the prices of individual structural panel products flat.
The federal government shutdown isn’t just affecting the paychecks of federal workers. It’s also damaging the economy as a whole.
800,000 furloughed federal workers have had their paychecks disrupted by the shutdown. According to data from the Center for American Progress, that represents a loss of more than $2.2 billion in consumer spending,
Whenever the shutdown – which is currently on its 25th day and is the longest in U.S. history – ends, some federal employees will receive back pay. But others won’t be so lucky. Federal contractors will not be afforded compensation once the government reopens.
Sources: Random Lengths, EIA, CNBC (1), CNBC (2)
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