Rock Products - The Leading Voice of the Aggregate Industries.

This Week’s Market Buzz

  • A company that was working to start a frac sand mine in the towns of Alma and Adams, Wis., filed for bankruptcy, according to the Jackson County Chronicle. Terracor Resources filed for Chapter 15 bankruptcy in a federal court in Texas April 4. Terracor has been working to launch a frac sand processing facility and related rail spur – an effort that has drawn packed county zoning meetings and opposition from landowners and other members of the public.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

  • Light, sweet crude for May delivery is currently trending at $37.26 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, is at $39.43 a barrel on ICE Futures Europe.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

  • Oil prices rose after a top energy monitor said that prices might have bottomed on hopes that falling supply would help alleviate the global glut of crude. The International Energy Agency said that prices have been supported by easing supply around the globe but cautioned that the recent rally might not be sustainable as the demand outlook remains uncertain. Crude prices have rebounded by around 40 percent since their lows last month. Brent crude, the global oil benchmark, rose 1.7 percent to $40.76 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 2.4 percent at $38.76 a barrel. Both benchmarks are up around 14 percent this month.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

  • Light, sweet crude for May delivery settled down 7 cents, or 0.2 percent, at $41.45 a barrel on the New York Mercantile Exchange. The May contract is the new front-month contract, and the settlement price is the highest front-month closing price since Dec. 1, 2015. Brent, the global benchmark, rose 25 cents, or 0.6 percent, to $41.79 a barrel on ICE Futures Europe, the highest settlement since Dec. 4, 2015.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

  • Oil prices could move back above $50 a barrel within a year as an OPEC initiative to freeze production gains support, according to CNNMoney. That's the view of Qatar's energy minister, Mohammed bin Saleh al-Sada, who also holds the rotating presidency of OPEC. "At the moment the best possible feasible proposal is to freeze at the level of production of January," al-Sada said in an exclusive interview. "We think [a production freeze] will gather more and more approval because it is [in] the interest of all parties." Five of OPEC's 13 members – Saudi Arabia, Kuwait, UAE, Qatar and Venezuela – plus Russia, have agreed to keep output steady. The idea is that by freezing production the countries will be able to fight a global supply glut, and save their endangered economies. But oil markets continue to be rattled by chaos within OPEC. Iran has blasted the production freeze as a "joke,” and Saudi Arabia says it is not prepared to cut output.

Read more: This Week’s Market Buzz