Source: Sam Meredith, CNBC
The International Energy Agency has lowered its estimate for global oil demand growth. The agency cited the trade war between the U.S. and China as well as fears of a global recession.
Crude futures have fallen more than 15% since the start of April.
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Diesel | per gallon | $3.070 | $3.105 | -$0.035 |
| Gasoline | per gallon | $2.670 | $2.732 | -$0.062 |
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| West Texas Intermediate Crude (Nymex) |
per barrel | $52.18 | $53.41 | -$1.23 |
| Brent Crude (ICE) |
per barrel | $60.99 | $62.17 | -$1.18 |
| Natural Gas (Nymex) |
MMBtu | $2.38 | $2.36 | +$0.02 |
From Random Lengths: Trends were mixed in structural panel trading. The announcements this week that two OSB plants were going to be curtailed indefinitely in Western Canada stirred buyers and reversed the downward trend in that market.
| Current | 1 Week Ago | 2 Weeks Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Lumber – Random Lengths | $326 | $319 | $325 | +$7 |
| Panels – Random Lengths | $333 | $341 | $348 | -$8 |
| Board Feet (per 1000) | $392.30 | $343.30 | $313.20 | $49 |
| 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 | 3.6% | 3.9% | 4.4% |
| May | 3.6% | 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: EIA, Trading Economics, Bloomberg