This Week’s Market Buzz

• At press time, Brent crude futures were down 29 cents, or 0.3%, to $85.12 a barrel, while U.S. WTI crude futures rose 2 cents, to $77.96.

• According to Wisconsin Public Radio, after a major contraction of Wisconsin’s frac sand mining industry, companies that survived recent downturns are seeing demand for sand used to drill for oil and natural gas rise again. A filing with the U.S. Securities and Exchange Commission shows Texas-based Smart Sand Inc., which has mines in western and southwestern Wisconsin, reported a 41% increase in sales of northern white sand during the third quarter of 2022 over the same time last year. The company noted revenues more than doubled year over year.

• A frac-sand plant in the Eagle Ford region of Texas recently erupted in flames imperiling supplies of sand to its hydraulic fracturing partners. The blaze started at Superior Silica Sands LLC’s sand-processing complex in San Antonio.

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