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Diesel And Lumber Prices - April 9, 2019 - Spec On The Job

Written by Kat Tallman | Apr 9, 2019 10:08:56 AM

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 EconomicsBloomberg

 

 

 

 

 

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