This Week’s Market Buzz

• Oil futures ended lower at press time, pulling back after four-consecutive sessions of gains lifted prices to their highest levels in weeks. Tensions in Iraq and uncertainty surrounding Iran’s nuclear deal have raised the risk to global crude supplies as expectations for stronger oil demand boosted prospects for a more balanced market. November West Texas Intermediate settled at $51.29 a barrel on the New York Mercantile Exchange. December Brent was $57.23 a barrel on ICE Futures Europe.

• “The stabilization of market conditions, combined with strong demand for frac sand and logistics services has benefited our business,” said Laura Fulton, chief financial officer of Hi-Crush. “We prudently expanded our geographic reach and operational capabilities in response to continued strong customer demand, and our volumes and cash flow have improved markedly.”

• Minnesota regulators agreed to delay action on a request to lift environmental review requirements for a would-be mining company with claims to thousands of acres in southern Minnesota, according to The Lacrosse Tribune. Minnesota Sands asked the Environmental Quality Board to terminate the board’s 2013 order requiring the company to complete a comprehensive Environmental Impact Statement before moving ahead on proposed mines on about 615 acres in Fillmore, Houston and Winona counties. The company, which has sued to overturn Winona County’s frac mining ban, now says its plans are limited to one 50-acre mine in Fillmore County because of legal and market conditions that have made the other locations unfeasible.

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