Source: CNBC
Escalating trade tensions between the U.S. and China continue to weigh heavily on oil markets.
Brent crude prices have lost more than 9% in the past week, and the index currently sits at a 7-month low of around $60 per barrel. However, a Reuters poll shows that U.S. crude inventories are expected to fall this week, which means that prices could rally due to concerns about supply.
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Diesel | per gallon | $3.032 | $3.034 | -$0.002 |
| Gasoline | per gallon | $2.688 | $2.715 | -$0.027 |
| Units | Current Price | 1 Week Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| West Texas Intermediate Crude (Nymex) |
per barrel | $54.42 | $57.22 | -$2.80 |
| Brent Crude (ICE) |
per barrel | $59.62 | $64.19 | -$4.57 |
| Natural Gas (Nymex) |
MMBtu | $2.12 | $2.13 | -$0.01 |
Source: Random Lengths
From Random Lengths: Sales picked up late [last] week in some framing lumber species.
Structural panel prices fell as supplies outpaced demand.
| Current | 1 Week Ago | 2 Weeks Ago | Change vs. 1 Week Ago | |
|---|---|---|---|---|
| Lumber – Random Lengths | $346 | $351 | $356 | -$5 |
| Panels – Random Lengths | $335 | $343 | $345 | -$8 |
| Board Feet (per 1000) | $368.20 | $335.80 | $333.70 | +$32.40 |
Source: Jeff Cox, CNBC
Bureau of Labor Statistics
The unemployment rate in July remained unchanged at 3.7%.
Payrolls rose to 164,000 during the month, which is keeping with analysts’ predictions of 165,000.
The size of the labor force also jumped sharply as 370,000 new workers entered the labor force, which brought the labor force’s size to a record high of 163.4 million.
| 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 | 3.7% | 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