Rock Products Logo
 

 

 
 

This Week’s Market Buzz

  • West Texas Intermediate crude for October delivery fell by 5 cents, or 0.09%, to $56.08 a barrel at press time. The October contract for global benchmark Brent crude rose 41 cents, or 1%, to $60.64 a barrel on ICE Futures Europe.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

•    At press time, Brent crude October futures lost as much as 5.2% to $55.88 a barrel, and prices have decreased more than 20% since their year-to-date peak in April. Meanwhile, U.S. West Texas Intermediate crude futures also slid as much as 5.8% to $50.52 a barrel.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

•    U.S. oil production surpassed 12 million barrels a day in April, further extending the nation's record output during the fracking boom, the U.S. Energy Information Administration reported.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

•    A man was arrested after two men fought to have the last word during a recent Kanab, Utah, city council meeting. William James, 40, was arrested July 9 on suspicion of disorderly conduct after request to stop, a class B misdemeanor, and disrupting a meeting or procession, a class C misdemeanor. He was charged with disorderly conduct a few days later, according to court records. About 250 people attended the meeting at the local library to comment on the city's plans to lease 600 acre-ft. to a company that wants to mine sand on nearby state trust land then ship it to be used in hydraulic fracturing operations in northeastern Utah oil fields, according to a report from Southern Utah News.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

•    Ryan Carbrey of Houston-based energy research firm Rystad Energy said shale energy deposits in North Dakota and Pennsylvania still rely on Northern White sand, while pointing out that in the Upper Midwest, mines with the annual capacity of 18 million tons of frac sand have already been idled this year, and that number may rise to 30 million tons by the end of 2019. Frac sand operations in Texas and Oklahoma are currently meeting most of the needs in the Permian Basin.

Read more: This Week’s Market Buzz