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This Week’s Market Buzz

• At press time, U.S. West Texas Intermediate (WTI) crude futures were down $1.77, or 3.3 percent, at $52.24 a barrel. International Brent crude oil futures fell $1.54 a barrel, or 2.5 percent, to $61.15.

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This Week’s Market Buzz

• International Brent crude oil futures fell 55 cents, or nearly 1 percent, to $60.95 per barrel at press time, while U.S. West Texas Intermediate crude futures fell 52 cents, or 1 percent, to $52.49 per barrel.

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This Week’s Market Buzz

• Covia's recent presentation comparing BOE recoveries utilizing Northern White Sand (NWS) to Texas Gold (as a proxy for Regional Sand) is an eye-opener, according to Joel Schneyer, managing director at Capstone Headwaters. Covia reports 16 percent higher EUR's resulting from the higher crush, sphericity and roundness, and lower acid solubility and turbidity of using NWS compared to Texas Gold. But, what does this really mean to the bottom line? Read his analysis here.

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This Week’s Market Buzz

• U.S. West Texas Intermediate crude oil futures were at $51.69 per barrel at press time, down 67 cents, or 1.3 percent. International Brent crude futures were down nearly 1 percent, or 53 cents, at $60.921 per barrel. U.S. bank Morgan Stanley cut its 2019 oil price forecasts by more than 10 percent, pointing to weakening economic growth expectations and rising oil supply, especially from the United States. The bank now expects Brent to average $61 a barrel this year, down from a previous estimate of $69, and U.S. crude to average $54, against a prior forecast of $60.

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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.

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