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.

• According to Research Analyst Brandon Waiter, writing for Seeking Alpha, the frac sand market will be very competitive in 2017 with sand companies making a push for integrated logistics. Demand will continue to be high as sand providers are already seeing shortages due to increased activity but this will balance out, he stated.

• The Global Frac Sand Market is Projected to grow at 10.29 percent CAGR during the period 2016-2020, according to Technavio’s new report on the global frac sand market 2016-2020. 

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