This Week’s Market Buzz

• 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…

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Rystad: Producers Could See Record-High Hydrocarbon Revenue

The U.S. shale industry is set to achieve a significant milestone in 2021: If WTI futures continue their strong run and average at $60 per barrel this year and natural gas and NGL prices remain steady, producers can expect a record-high hydrocarbon revenue of $195 billion before factoring in hedges, a Rystad Energy analysis shows. The previous record of $191…

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Twin Eagle Breaks Ground for New Terminal

Twin Eagle Sand Logistics has broken ground on the Permian Rail Park. The Permian Rail Park is located on the Union Pacific Railway approximately eight miles west of the city of Big Spring, Texas. The 530-acre rail park is Twin Eagle’s fifth terminal development and is centrally located to serve the Eastern side of the Permian Basin.

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Hi-Crush, ARB to Develop Rail Hubs

Hi-Crush Partners LP and ARB Midstream LLC announced that the companies have entered into definitive agreements to jointly develop and operate two energy rail hubs, one in the DJ Basin and one in the Permian Basin. Both facilities will be served by the Union Pacific Railroad, and will provide unit and manifest train capabilities for frac sand and crude oil.…

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