• At press time, West Texas Intermediate crude for September delivery rose 16 cents, or 0.2%, to settle at $72.07 a barrel on the New York Mercantile Exchange. That led the U.S. benchmark up by 0.7% for the week, based on the front-month contract, according to Dow Jones Market Data. September Brent crude the global benchmark, added 31 cents, or…
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This Week’s Market Buzz
• At press time, oil prices fell after a new strain of coronavirus discovered in the U.K. sparked fresh travel restrictions across Europe and concerns that there may be more lockdowns globally. Brent crude oil, the international benchmark, dropped 2.6% to $50.91 a barrel. Futures tied to West Texas Intermediate, the main U.S. crude gauge, fell 2.8% to $47.74 a…
Read MoreRystad Energy Predicts Frac Sand Market
Demand for frac sand in the United States is predicted to grow by 10% in 2019 and 17% in 2020, according to Rystad Energy. Frac sand supply, on the other hand, is forecast to increase by 10% in 2019 and then decrease by 2% in 2020 as more Northern White Sand will come off the market.
Read MoreThis Week’s Market Buzz
• Oil prices are trending higher on news of Saudi supply cuts to Asia. Oil’s gains came despite government data showing a bigger-than-expected weekly build in U.S. crude and fuel inventories. Brent crude futures were up $1.60, or 3 percent, at $55.24 a barrel, while U.S. West Texas Intermediate (WTI) crude oil futures were up $1.53, or 3 percent, at…
Read MoreFrac Sand Insider Conference Draws Attendees; Protestors
Rock Products held its third Frac Sand Insider conference May 10-11 at the La Crosse Center in La Crosse, Wis. Almost 300 people attended the event, which was highlighted by an educational program, expo and social events.
Read MoreEmerge Energy Looks to the Future
Emerge Energy reported net loss of $9.9 million, or $0.41 per diluted unit for the three months ended Dec. 31, 2015. Net income, net income per unit and Adjusted EBITDA for the three months ended Dec. 31, 2014, were $24.4 million, $1.01 per diluted unit and $36.3 million, respectively.
Read MoreEmerge Energy Reports Results
Emerge Energy Services announced fourth quarter and full-year 2015 financial and operating results. The company reported a net loss of $9.9 million for the three months ended Dec. 31, 2015. This includes full-quarter sales of 581,000 tons of sand. For the year ended Dec. 31, 2015, Emerge Energy reported net loss of $9.4 million.
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