Diesel And Lumber Prices – February 20, 2019

Diesel Prices

National Average Diesel Price Per Gallon: $3.01

Brent crude was trading at $62.90 a barrel Tuesday morning, up 0.8%

West Texas Intermediate stood at $53.46, or 0.6% higher.

Last month, President Trump’s administration imposed targeted crude oil sanctions on Venezuela. The move was meant to bar President Nicolas Maduro from accessing oil revenue.

But according to the International Energy Agency, the move had little effect on oil prices.

“Headline benchmark crude oil prices have hardly changed on news of the sanctions. This is because, in terms of crude oil quantity, markets may be able to adjust after initial logistical dislocations,” the group said.

Lumber Prices

Framing lumber: $377

Snow in the Northeast and rain in California slowed framing lumber sales last week. This winter weather, along with slow mill sales, hurt trading momentum. But the framing lumber composite price still managed to post a gain of $7 versus the previous week.

Panels/plywood: $377

Structural panel products also saw minimal trading. The same winter weather that hurt framing lumber sales also slowed panel sales, leading to a gain in the composite price of only $2 versus the previous week.

Sources: Random Lengths, EIA, CNBC 

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