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This Week’s Market Buzz

• The Energy Information Administration reported a 4.6-million draw in crude oil inventories for the week to March 30, largely in line with analysts polled by IG, who had expected a draw of 4.1 million barrels. For the previous week, the EIA had reported a 1.6-million-barrel build in crude oil inventories. WTI traded at $62.38 a barrel and Brent crude was at $67.11.

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This Week’s Market Buzz

• According to Wisconsin Public Radio, despite increased competition from sand mines opening in other parts of the country, especially Texas, sand production is returning to higher levels in Wisconsin. "We're projecting a very good year this year which is going to bring growth to the state of Wisconsin as well as other areas like Texas and many other areas where industrial sand mining has been going on for many, many decades," said Rich Budinger, operations manager for sand company Fairmount Santrol and past president of the Wisconsin Industrial Sand Association.

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This Week's Market Buzz

  • Select Sands Corp. announced as part of its plans to improve logistics and create better efficiencies, the company has completed a new private road to gain direct access to a recently rebuilt Federal Highway from its producing Sandtown Quarry in Arkansas. Zig Vitols, president and CEO of Selects Sands said, "We continue to see strong demand for our Northern White frac sand product due to its premium quality and the strategic location of our operations relatively close to some of the most prolific producing oil and gas basins in the U.S. Building this road is another step in being more effective and efficient at meeting demand."

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This Week's Market Buzz

  • Oil prices dropped by more than 2 percent among concerns of President Donald Trump's plans to set tariffs on steel and aluminum imports and the recent resignation of top White House economic adviser Gary Cohn. April West Texas Intermediate crude fell $1.03, or 1.7 percent, to settle at $60.12 a barrel on the New York Mercantile Exchange, marking its lowest finish since Feb. 13, according to FactSet data. May Brent crude lost 73 cents, or 1.1 percent, to $63.61 a barrel on the ICE Futures Europe exchange, also the lowest finish since mid-February.

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This Week's Market Buzz

  • Shale Support Holdings LLC, a leading provider of frac sands and logistical solutions to the oil and gas proppant market, has announced its newest exclusive terminal located in Gibsland, La. The terminal boasts 24-hr operations, seven days-a-week, 100-car capacity, easy access to major highways, on-site space to store containerized sand boxes, and room to add future storage capabilities. Shale Support is strategically aligned with key destination terminals that serve the Marcellus, Utica, Haynesville, Tuscaloosa, Mid-Con, Permian and Eagle Ford shale basins. The company has the flexibility to ship proppant via rail, road and barge.

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