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Source: Natasha Turak, CNBC
Crude oil futures have surged since the start of 2019.
Tightening supplies caused by more oil being taken off the market in Iran and Venezuela (as well as continued supply cuts from OPEC) are all contributing to rising prices.
“Commodities demand is relatively rock solid, demand is so solid in China right now … Bottom line, demand looks really good right now,” said Jeff Currie, head of commodities research at Goldman Sachs.
Petroleum Prices
Diesel and Gasoline (U.S. Averages)
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Diesel | per gallon | $3.093 | $3.078 | +0.015 |
| Gasoline | per gallon | $2.745 | $2.691 | +0.054 |
Crude Oil & Natural Gas
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| West Texas Intermediate Crude (Nymex) |
per barrel | $64.08 | $62.09 | +1.99 |
| Brent Crude (ICE) |
per barrel | $70.51 | $69.18 | +1.33 |
| Natural Gas (Nymex) |
MMBtu | $2.69 | $2.69 | +0.00 |
Lumber Prices
Framing Lumber & Plywood Products
| Current | 1 Week Ago | 2 Weeks Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Lumber – Random Lengths | $358 | $360 | $361 | -$2 |
| Panels – Random Lengths | $366 | $370 | $374 | -$4 |
| Board Feet (per 1000) | $345.50 | $365.70 | $360.20 | -$20.20 |
Sources: Random Lengths, EIA, Trading Economics, Bloomberg
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