Smart Sand Inc. announced that it has received notification from the Nasdaq Stock Market that the company has regained compliance for continued listing. Charles Young, Smart Sand’s chief executive officer, stated, “We are pleased to have regained compliance with the Nasdaq continued listing rules. We remain focused on providing the highest quality products and services to our customers throughout the…
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This Week’s Market Buzz
• A former Preferred Sands executive is the subject of a feature story in Sports Illustrated.
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• Investment bank Morgan Stanley expects Brent crude prices to rise to $40 per barrel during the last quarter of the year, citing improving demand as the main driver for higher oil prices. In a note to its clients, the bank states that it expects a strong rebound in demand, and even sees a supply deficit on the horizon if…
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• Oil prices surged at press time after the International Energy Agency forecast lower global stockpiles in the second half of 2020, even as worries remain over a second surge in coronavirus infections in coming months. Crude prices have ticked up in the last two weeks as some countries relaxed coronavirus restrictions and lockdowns to allow factories and shops to…
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• Following an unprecedented global crash, oil prices climbed at press time on signs that the global economy is moving towards a slow reopening, and inventory data shows storage demand for the commodity rising slower than expected. West Texas Intermediate crude climbed as much as 20%, to $18 per barrel. Meanwhile, international benchmark Brent crude rose 14%, to $25.75 per…
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• The U.S. shale industry is expected to shrink by more than 2 million barrels a day following a collapse in global oil prices which has forced oil producers to shut down their fracking rigs. The U.S. oil market slumped to fresh 18-year lows below $18 a barrel at press time following one of the biggest hikes in U.S. oil…
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• Oil posted the worst quarter on record after COVID-19/coronavirus crushed demand and raised fears about overflowing storage tanks amid a price war that has flooded the market with extra supply. Futures in New York edged higher at press time but still ended the quarter down more than 66%. While Brent and West Texas Intermediate futures held above $20 a…
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• Smart Sand reported, “We support the United Nations’ Paris Accord objective of carbon-neutral operations by 2050 and plan to voluntarily align our strategies, goals and reporting efforts to do our part in supporting this global initiative. Simultaneously, Smart Sand will launch a formal Environmental, Social and Governance (ESG) program. Our website provides details that articulate our ESG goals. We…
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• Oil prices were higher at press time, shortly after two sources told Reuters that OPEC provisionally agreed to cut production by 1.5 million barrels per day. International benchmark Brent crude traded at $51.52, up around 0.8%, while U.S. West Texas Intermediate stood at $47.10, around 0.7% higher.
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• At press time, Brent crude rose 19 cents, or 0.3%, to $59.31 per barrel. The front-month U.S. West Texas Intermediate (WTI) crude futures contract gained 49 cents, or 0.9%, to settle at $53.78 per barrel. The more-active second-month WTI benchmark was up 95 cents, or 0.7%, at $54.44 a barrel.
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