• Oil prices jumped 3% at press time, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant. Brent crude climbed $2.59, or 3.9%, to $67.75 a barrel after touching its lowest since May 21 at $64.60. U.S. West Texas Intermediate (WTI) crude for October…
Read MoreTag: frac sand
This Week’s Market Buzz
• Oil prices slid at press time, building on last week’s steep losses, as rising Covid cases prompted fears of a demand slowdown. West Texas Intermediate crude futures declined 2.5% to trade at $66.60 per barrel. International benchmark Brent crude declined 2.2% to $69.15 per barrel.
Read MoreCDE Finds Solution for Argentinian Frac Sand Plant
La Chola has been producing sand and aggregates since 1994 in the Pampa Soler, Concordia province of Entre Rios in Argentina. A family-run company, it is divided into two businesses with La Chola II established to focus on the extraction of sand for hydraulic fracking.
Read MoreCanadian Premium Sand Initiates FEED Study
Canadian Premium Sand Inc. (CPS) has initiated a Front End Engineering and Design (FEED) study for its proposed flat glass manufacturing facility and plans to conduct a non-brokered private placement based on receiving unsolicited interest from a U.S. institution.
Read MoreU.S. Silica to Raise Prices
U.S. Silica Holdings Inc. announced that its Industrial and Specialty Products business will increase prices for most of its non-contracted silica sand, diatomaceous earth and clay products used primarily in glass, foundry, paints, coatings, elastomers, roofing, chemicals, recreation, building products, agricultural, pet litter and other applications.
Read MoreThis Week’s Market Buzz
• 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…
Read MoreRystad Energy Looks Ahead
Following a deadlock in OPEC+ negotiations at the July 2021 meeting, oil prices briefly rose above $75 per barrel at the prospect of the alliance keeping output stable from August onwards, with producers in theory honoring their commitment to the original deal until a new way forward is agreed. As global oil demand is set to grow significantly, such a…
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• At press time, Brent crude oil futures were up $1.49, or 2%, at $75.60 a barrel. U.S. West Texas Intermediate futures were up $1.67, or 2.3%, at $74.61.
Read MoreThis Week’s Market Buzz
Oil prices edged up at press time, putting both benchmarks on track for a fifth consecutive week of gains on expectations demand growth will outstrip supply and OPEC+ producers will be cautious in returning more crude to the market from August. Brent futures rose 32 cents, or 0.4%, to $75.88 a barrel, while U.S. West Texas Intermediate (WTI) crude rose…
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Goldman Sachs has reiterated its forecast that Brent crude will hit $80 per barrel this summer as demand quickly recovers. “Rising vaccination rates are leading to higher mobility in the United States and Europe, with global demand estimated up 1.5 million barrels per day (mb/d) in the last month to 96.5 mb/d,” the investment bank said in a note as…
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