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This Week's Market Buzz

  • Oil prices dropped by more than 2 percent among concerns of President Donald Trump's plans to set tariffs on steel and aluminum imports and the recent resignation of top White House economic adviser Gary Cohn. April West Texas Intermediate crude fell $1.03, or 1.7 percent, to settle at $60.12 a barrel on the New York Mercantile Exchange, marking its lowest finish since Feb. 13, according to FactSet data. May Brent crude lost 73 cents, or 1.1 percent, to $63.61 a barrel on the ICE Futures Europe exchange, also the lowest finish since mid-February.

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This Week's Market Buzz

  • Select Sands Corp. announced as part of its plans to improve logistics and create better efficiencies, the company has completed a new private road to gain direct access to a recently rebuilt Federal Highway from its producing Sandtown Quarry in Arkansas. Zig Vitols, president and CEO of Selects Sands said, "We continue to see strong demand for our Northern White frac sand product due to its premium quality and the strategic location of our operations relatively close to some of the most prolific producing oil and gas basins in the U.S. Building this road is another step in being more effective and efficient at meeting demand."

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This Week's Market Buzz

  • According to a report from the Associated Press, some energy producers are still willing to pay more for Wisconsin's high-quality frac sand despite increasing competition from Texas producers. Many energy companies still value Wisconsin sand because of its strength, plus companies can drill deeper and keep oil wells producing longer. Some companies are also mixing Wisconsin sand with less-expensive Texas sand.

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This Week's Market Buzz

  • Shale Support Holdings LLC, a leading provider of frac sands and logistical solutions to the oil and gas proppant market, has announced its newest exclusive terminal located in Gibsland, La. The terminal boasts 24-hr operations, seven days-a-week, 100-car capacity, easy access to major highways, on-site space to store containerized sand boxes, and room to add future storage capabilities. Shale Support is strategically aligned with key destination terminals that serve the Marcellus, Utica, Haynesville, Tuscaloosa, Mid-Con, Permian and Eagle Ford shale basins. The company has the flexibility to ship proppant via rail, road and barge.

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This Week’s Market Buzz

• Oil prices are at three-year highs, as geopolitical risk and confidence in global growth continued to buoy markets. Light, sweet crude for February delivery rose $1.23, or 2 percent, to $62.96 a barrel on the New York Mercantile Exchange, the highest settle value since December 2014. Brent, the global benchmark, also closed at a three-year high, up $1.04, or 1.5 percent, to $68.82 a barrel.

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