• At press time, oil prices rose as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID-19 pandemic. Brent crude was up 21 cents, or 0.4%, at $48.46 a barrel. U.S. West Texas Intermediate oil was 11 cents, or 0.2%, higher at $45.39 a barrel.
• U.S. Silica Holdings Inc. said its Industrial and Specialty Products business will increase prices for most of its non-contracted silica sand, diatomaceous earth, perlite, cellulose and clay products used primarily in filtration, glass, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, agricultural, pet litter and other applications. Price increases will range up to 15%, depending on the product and grade. The price increases are effective for shipments starting Jan. 1, 2021. The price increases will support the continued investments the company is making in upgrading its capacity to meet the growing demand for its products and to offset rising production costs.
• Source Energy Services Ltd. has obtained a Final Order of the Court of Queen’s Bench of Alberta approving the company’s recapitalization transaction. Subject to the satisfaction or waiver of the conditions to the implementation of the Plan of Arrangement (including the finalization and execution of definitive documentation relating to the New Secured Notes, the Company’s senior bank financing arrangements, and a revised intercreditor agreement), the company expects to complete the Recapitalization Transaction in December.