This Week’s Market Buzz

• The U.S. oil benchmark, WTI Crude, rose at press time to above $64 a barrel, soaring by more than 5%, after OPEC+ sources began telling reporters that the coalition may be close to agreeing not to increase their collective oil production in April. Brent Crude prices jumped above $67 per barrel, to $67.17, up by 5.10%, after OPEC+ sources started to leak insights from the ongoing OPEC+ ministerial meeting.

• A court-appointed receiver is asking to sell Jordan Sands quarry property for $8 million to help settle the company’s default on a $22 million loan, according to the Mankato Free Press. Early last year a St. Cloud bank sued Jordan Sands and the Coughlan family after it says they defaulted on the loan. Stearns Bank said they were still owed $18.5 million. Recently the receiver asked the court to allow it to sell the property, saying that despite efforts to attract bids, it could find no buyers willing to pay a higher price. The $8 million offer was made jointly by Holtmeier Construction, Kasota Stone Fabricators and Pentagon Materials, all based in Mankato, Minn.

• According to Bossier Now, Bossier City approved a request from Sierra Frac Sand LLC, for a resolution of support of their request to the Corps of Engineers to remove sand and other material from the Red River through dredging and other means.

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