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This Week’s Market Buzz

• Oil prices are trending higher on news of Saudi supply cuts to Asia. Oil's gains came despite government data showing a bigger-than-expected weekly build in U.S. crude and fuel inventories. Brent crude futures were up $1.60, or 3 percent, at $55.24 a barrel, while U.S. West Texas Intermediate (WTI) crude oil futures were up $1.53, or 3 percent, at $52.35 a barrel.

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Oilfield Services Report: Good News for Proppants

Headwaters MB has released its latest Oilfield Services Report. The report states that, “After two years of low or declining commodity prices and low rig counts, signs have begun to emerge that oil and gas markets may finally be on the path to recovery. With some stability in commodity prices, the question now is whether the oil market's optimism will hold while drillers enter budget-planning season over the next few months.”

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Permit Dispute Heads to State Supreme Court

According to Wisconsin Public Radio, a dispute over a frac sand mining permit in Trempealeau County is heading to the state Supreme Court next month and the implications of the case could change how local governments issue permits.

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Frac Sand Projects Proposed in Wisconsin

According to a report on WIZM news, Lacrosse, Wis., wetlands are at the core of the debate over a couple of proposed frac sand mining facilities in Jackson and Monroe counties. Meteor Timber has two frac-sand mining projects in that area and says they're valued at $65 million and would create 100 jobs.

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Select Sands Names New President and CEO

Select Sands Corp. announced that Zigurds "Zig" Vitols, the company's current chief operating officer, has been appointed president and CEO. Vitols will be replacing Rasool Mohammad, who will be taking on a new role as chief operating officer of Select Sands and president of American Select Corp., a wholly owned U.S. subsidiary of Select Sands.

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