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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.
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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