Diesel And Lumber Prices – February 12, 2019

Diesel Prices

National Average Diesel Price Per Gallon: $2.97

Brent crude was trading at $61.90 a barrel Tuesday morning, up 0.6%

West Texas Intermediate stood at $52.68, or 0.5% higher.

OPEC and its allied producers agreed last week to impose production cuts starting in January 2019 to prevent global oversupply. But according to analysts such as Bob Dudley, CEO of BP, there isn’t enough data yet to gauge what effect the supply cut will ultimately have on the market. “We will have to see what the data looks like but the markets feel tight to me,” he said.

Lumber Prices

Framing lumber: $370

Early momentum in framing lumber trading carried prices higher, raising them by $16 versus the previous week.

Panels/plywood: $375

Sales of structural panel products slowed versus the previous week, but prices remained firm, leading to an increase in the index price by $3 versus the previous week.

Sources: Random Lengths, EIA, CNBC 

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