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This Week’s Market Buzz

  • Oil prices came under pressure at press time from rising U.S. crude oil stocks and weak factory activity in China, with few bullish factors on the horizon. Brent crude futures fell 40 cents to settle at $60.21 a barrel, erasing earlier gains. U.S. West Texas Intermediate (WTI) crude futures fell 88 cents, or 1.6%, to settle at $54.18 per barrel. On the month, however, they are set for a rise of about 0.9%, its biggest monthly gain since June.
  • Athabasca Minerals Inc. announced that effective Oct. 25, Neil D. Manning was appointed to the corporation’s board of directors, subject to TSX Venture final approval, and John Halliwell has correspondingly stepped down from the board.
  • A bankruptcy judge signed off on a restructuring plan covering Shale Support Global Holdings LLC that hands ownership of the frac-sand supplier to Benefit Street Partners LLC. The Lafayette, La.-based company filed for chapter 11 in July, saying a 40% drop in revenue last year for a key product had strained liquidity.