Diesel, Lumber, And Staffing News – July 11, 2018




National Average Price Per Gallon: $3.243

Growing supply outages pushed the price of crude oil up as of July 10. Market uncertainty contributed to the rise.

U.S. Secretary of State Mike Pompeo said Washington will consider extending sanctions relief to some buyers of Iranian crude.

Elsewhere in the world, striking workers shut down offshore oil rigs in Norway, and Libya’s national oil production fell due to port closures. Norway ranks as the 14th largest oil producer in the world, while Libya ranks as the 22nd.





Framing lumber: $542

Panels/plywood: $542

The Fourth of July and Canada Day holidays had a big effect on the prices of both framing lumber and structural panel products. Closed offices and vacations slowed trading, which pushed prices downward.





The trend of employers having more open jobs than they’re able to fill continues.

36% of small businesses are unable to fill their open jobs, matching the highest level on record (which was set back in November 2000).

According to the NFIB Research Center, 21% of small business owners cited trouble finding qualified workers as the single most important business problem.



Sources: Random Lengths, EIACNBC (1), CNBC (2)






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