This Week’s Market Buzz

·  Oil prices fell to a two-week low at press time as China rolled out a plan to release state oil reserves, the U.S. weekly crude draw was smaller than expected and U.S. Treasuries rallied as investors sought safer assets. In volatile trade, Brent futures fell $1.15, or 1.6%, to settle at $71.45 a barrel. U.S. West Texas Intermediate (WTI) crude fell $1.16, or 1.7%, to $68.14.

·  The global proppants market is expected to reach $18.44 billion by 2028 according to Stratistics Market Research.

·  Victory Nickel reported that the domestic frac sand market appears to be showing signs of recovery, customers are reporting a 20% to 50% increase in volume of sand pumped during the second quarter of 2021 compared to the second quarter of 2020. The company continues to review the business plan for the development of its Short Grass property.

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