Rock Products Logo
 

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.

Read more: This Week's Market Buzz

This Week's Market Buzz

  • According to a report from the Associated Press, some energy producers are still willing to pay more for Wisconsin's high-quality frac sand despite increasing competition from Texas producers. Many energy companies still value Wisconsin sand because of its strength, plus companies can drill deeper and keep oil wells producing longer. Some companies are also mixing Wisconsin sand with less-expensive Texas sand.

Read more: This Week's Market Buzz

This Week’s Market Buzz

• Oil prices edged lower at press time as traders awaited data on U.S. oil stockpiles. U.S. crude futures fell 6 cents, or 0.1 percent, to $59.58 a barrel on the New York Mercantile Exchange. Brent Crude, the global benchmark, fell 6 cents, or 0.09 percent, to $66.38 a barrel on ICE Futures Europe. Both grades have approached their highest levels since 2015.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

• Oil prices are at three-year highs, as geopolitical risk and confidence in global growth continued to buoy markets. Light, sweet crude for February delivery rose $1.23, or 2 percent, to $62.96 a barrel on the New York Mercantile Exchange, the highest settle value since December 2014. Brent, the global benchmark, also closed at a three-year high, up $1.04, or 1.5 percent, to $68.82 a barrel.

Read more: This Week’s Market Buzz

This Week’s Market Buzz

• U.S. West Texas Intermediate crude fell 3 cents at press time to $57.11 a barrel. Brent crude fell 23 cents to $63.04 a barrel. It settled down 2.1 percent on a wave of profit-taking after the North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015.

Read more: This Week’s Market Buzz