Source: Sam Meredith, CNBC
A rise in tensions between the U.S. and Iran caused a climb in crude prices. The prospect of a military conflict caused Brent crude to jump 5% last week, and West Texas Intermediate benchmark to rise by 10%.
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Diesel | per gallon | $3.043 | $3.070 | -$0.027 |
| Gasoline | per gallon | $2.654 | $2.670 | -$0.016 |
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| West Texas Intermediate Crude (Nymex) |
per barrel | $58.17 | $52.18 | +$5.99 |
| Brent Crude (ICE) |
per barrel | $65.40 | $60.99 | +$4.41 |
| Natural Gas (Nymex) |
MMBtu | $2.28 | $2.38 | -$0.10 |
Source: Random Lengths
News broke Monday of another mill closure in British Columbia, which shifted trading in most framing lumber species to a higher gear. Structural panel trading displayed more energy…supply-side concerns pulled buyers into the market following recent curtailment announcements in Western Canada.
| Current | 1 Week Ago | 2 Weeks Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Lumber – Random Lengths | $345 | $326 | $319 | +$19 |
| Panels – Random Lengths | $334 | $333 | $341 | +$1 |
| Board Feet (per 1000) | $394.30 | $392.30 | $343.30 | $2 |
| 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