Source: CNBC
OPEC supply cuts outweighed downward pressures on the global economy last week, leading to a rise in oil prices.
Oil prices were also helped by reports that are expected to show a drop in U.S. crude inventories.
![Current diesel national average $3.055 per gallon.](https://speconthejob.com/hs-fs/hubfs/Imported_Blog_Media/spec-diesel-070919.png?width=400&height=300&name=spec-diesel-070919.png)
Petroleum Prices
Diesel and Gasoline (U.S. Averages)
|
Units |
Current Price |
1 Week Ago |
Change vs. 1 Week Ago |
Diesel |
per gallon |
$3.055 |
$3.042 |
+$0.013 |
Gasoline |
per gallon |
$2.743 |
$2.713 |
+$0.030 |
Crude Oil & Natural Gas
|
Units |
Current Price |
1 Week Ago |
Change vs. 1 Week Ago |
West Texas Intermediate Crude (Nymex) |
per barrel |
$57.74 |
$58.49 |
-$0.75 |
Brent Crude (ICE) |
per barrel |
$64.29 |
$64.57 |
-$0.28 |
Natural Gas (Nymex) |
MMBtu |
$2.38 |
$2.26 |
+$0.12 |
Lumber Prices
Source: Random Lengths
From Random Lengths: Sales of framing lumber geared down, as buyers had covered many of their needs prior to the holiday-shortened week.
Structural panel prices were firm to stronger amid a mixed trading pace.
Framing Lumber & Plywood Products
|
Current |
1 Week Ago |
2 Weeks Ago |
Change vs. 1 Week Ago |
Lumber – Random Lengths |
$359 |
$354 |
$345 |
+$5 |
Panels – Random Lengths |
$344 |
$342 |
$334 |
+$2 |
Board Feet (per 1000) |
$379.40 |
$404.60 |
$394.30 |
-$25.20 |
U.S. Unemployment Rates
Source: CNBC
The economy added 224,000 jobs in June, which was well above the market expectation of 165,000.
And while the unemployment rate did rise slightly to 3.7%, this number is still at a near 50-year low.
Transportation and warehousing saw job gains of 24.000. Construction added 21,000 jobs, and manufacturing beat expectations by adding 17,000 jobs.
|
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 |
3.7% |
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, Random Lengths
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