This Week’s Market Buzz

• Oil prices rose after data showed inventory declines in the United States and as investors began to expect that the global oil market could have a deficit sooner than they had previously thought. Benchmark Brent crude oil was up 63 cents, or 1.1 percent, at $60.78 per barrel while U.S. West Texas Intermediate light crude rose 74 cents, or 1.5 percent, to $51.89.

• According to Utah Geological Survey Industrial Minerals geologist Andrew Rupke, mining companies are actively searching for frac sand in Utah. He also noted that mining companies across the globe are becoming more mindful of the potential environmental impacts of the industry and are shifting to become more sustainable,

• U.S. railways originated 1,032,067 carloads in November 2018, down 0.2 percent year on year, according to the Association of American Railroads. Commodities that saw year-on-year declines in November included crushed stone/sand and gravel, down 12,090 carloads or 12.8 percent. “Total carloads fell for the first time in nine months, in part because of lower carloads of frac sand, while intermodal grew only modestly,” said Vice President John Gray.

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