This Week’s Market Buzz

• Oil futures lost ground at press time, prompting prices to turn lower for the week, as an accelerating rise in COVID-19 cases in the U.S. and Europe heightens worries about demand for crude. West Texas Intermediate crude for November delivery fell 58 cents, or 1.4%, to $40.38 a barrel on the New York Mercantile Exchange, December Brent crude was off 67 cents, or 1.6%, to $42.49 a barrel on ICE Futures Europe.

• Democratic presidential candidate and former Vice President Joe Biden again said he does not want to ban fracking during an ABC town hall, adding, though, that “it has to be managed very, very well.” Biden was responding to a question from Pittsburgh resident Michele Ellison, identified as a Republican who has voted for Democrats, who asked him about fracking.

• Junior creditors of frac sand supplier Covia Holdings are looking to pursue fraud claims against the company’s current and former officers, shareholders and lenders stemming from the 2018 merger that the creditors say was the cause of Covia’s bankruptcy.

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