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Source: Lizzy Gurdus, CNBC
The Trump Administration announced on April 22 that it will move to curb Iran’s oil output by ending exemptions to sanctions against the country.
The move caused an immediate rise in crude prices as traders brace for a restricted supply.
Petroleum Prices
Diesel and Gasoline (U.S. Averages)
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Diesel | per gallon | $3.147 | $3.118 | +0.029 |
| Gasoline | per gallon | $2.841 | $2.828 | +0.013 |
Crude Oil & Natural Gas
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| West Texas Intermediate Crude (Nymex) |
per barrel | $65.64 | $63.72 | +1.92 |
| Brent Crude (ICE) |
per barrel | $74.10 | $71.34 | +2.76 |
| Natural Gas (Nymex) |
MMBtu | $2.52 | $2.59 | -0.07 |
Lumber Prices
Framing Lumber & Plywood Products
| Current | 1 Week Ago | 2 Weeks Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Lumber – Random Lengths | $350 | $353 | $358 | -$3 |
| Panels – Random Lengths | $357 | $361 | $366 | -$4 |
| Board Feet (per 1000) | $323.60 | $348 | $345.50 | -$24.40 |
Latest Jobs Report
According to the Federal Reserve, economic activity “expanded at a slight-to-moderate” pace in March and early April.
Employment continues to increase nationwide, with the biggest gains in high-skilled jobs. However, shortages of skilled laborers in manufacturing and construction continue to restrain growth in these industries.
Many regions of the U.S. saw decreases in lumber prices and increases in oil prices.
The average wage rose 3.2% versus a year ago, to $27.70 per hour.
U.S. Unemployment Rates
| 2019 | 2018 | 2017 | |
|---|---|---|---|
| January | 4.0% | 4.1% | 4.8% |
| February | 3.8% | 4.1% | 4.7% |
| March | 3.8% | 4.1% | 4.5% |
| April | – | 3.9% | 4.4% |
| May | – | 3.8% | 4.3% |
| June | – | 4.0% | 4.4% |
| July | – | 3.9% | 4.3% |
| August | – | 3.9% | 4.4% |
| September | – | 3.7% | 3.7% |
| October | – | 3.7% | 4.1% |
| November | – | 3.7% | 4.1% |
| December | – | 3.9% | 4.1% |
Sources: Random Lengths, EIA, Trading Economics, Bloomberg
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