This Week’s Market Buzz

  • Crude oil prices crashed on Nov. 14, losing 7 percent in just one day, which was the biggest daily loss in three years. At press time, WTI is $56.67 per barrel, and Brent $66.8, despite pressure by a vicious combination of demand outlook, oversupply concerns and other factors such as President Trump’s call on OPEC to keep production at current levels.

  • La Crosse County Circuit Judge Scott Horne denied a motion by OmniTRAX Logistics Services to dismiss the 2016 case brought by three families who say the mine and processing plant proposed for between Black River Falls, Wis., and Alma Center, Wis., would create a nuisance. Horne’s ruling would allow the case to move forward to an evidentiary hearing, but according to a hearing transcript, attorney Rich White told the court OmniTRAX would likely not move forward with the project.
  • Athabasca Minerals Inc. announced that it is continuing progress in enhancing the business enterprise and valuation of AMI Silica Inc., a wholly-owned subsidiary, in providing premium domestic frac sand for the oil and gas sector in Western Canada. AMI Silica submitted its Development Permit application in late July for review and approval by the Town of Mayerthorpe and is working on a long-term lease agreement with the property owner and actively having discussions with capital firms with respect to financing of the Firebag frac sand project.

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