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AMERICAS OIL: US Homebuilder Sentiment Drops to Five-Month Low in February

AMERICAS OIL
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US Homebuilder Sentiment Drops to Five-Month Low in February: Reuters

  • US homebuilder sentiment tumbled to a five-month low in February amid worries that tariffs on imports would combine with higher mortgage rates to further drive up housing costs.
  • The National Association of Home Builders/Wells Fargo Housing Market Index plunged five points to 42 this month, the lowest reading since September. That erased all the gains that were notched since President Trump's election victory in November, when sentiment rose in anticipation of a less-stringent regulatory environment.
  • This could have a negative impact on ULSD prices at the margin as demand for diesel and heating oil diminishes amid a decline in construction and homes that require heating.
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US Homebuilder Sentiment Drops to Five-Month Low in February: Reuters

  • US homebuilder sentiment tumbled to a five-month low in February amid worries that tariffs on imports would combine with higher mortgage rates to further drive up housing costs.
  • The National Association of Home Builders/Wells Fargo Housing Market Index plunged five points to 42 this month, the lowest reading since September. That erased all the gains that were notched since President Trump's election victory in November, when sentiment rose in anticipation of a less-stringent regulatory environment.
  • This could have a negative impact on ULSD prices at the margin as demand for diesel and heating oil diminishes amid a decline in construction and homes that require heating.