Source: CNBC
Oil companies shut down 74% of U.S. oil production in the Gulf of Mexico and evacuated workers from 280 production platforms ahead of Hurricane Barry. But oil producers began to restore operations as of Monday, July 15.
The storm made landfall in Louisiana on Saturday, July 13 and traveled north, eventually reaching Arkansas as a tropical depression.
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Diesel | per gallon | $3.051 | $3.055 | -$0.004 |
| Gasoline | per gallon | $2.779 | $2.743 | +$0.036 |
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| West Texas Intermediate Crude (Nymex) |
per barrel | $59.87 | $57.74 | +$2.13 |
| Brent Crude (ICE) |
per barrel | $66.81 | $64.29 | +$2.52 |
| Natural Gas (Nymex) |
MMBtu | $2.33 | $2.38 | -$0.05 |
Source: Random Lengths
From Random Lengths: Framing lumber trading was measured through the week, disappointing some who had expected a more active pace after the holiday.
Structural panel sales were sluggish, and buyers maintained a cautious approach.
| Current | 1 Week Ago | 2 Weeks Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Lumber – Random Lengths | $361 | $359 | $354 | +$2 |
| Panels – Random Lengths | $345 | $344 | $342 | +$1 |
| Board Feet (per 1000) | $360.00 | $379.40 | $404.60 | -$19.40 |
| 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