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This Week’s Market Buzz

• Oil prices rose after government data showed a large decline in U.S. inventories of crude oil and an increase in demand for gasoline even as the summer driving season prepares to slow down. Light sweet crude for September delivery rose 78 cents, or 1.1 percent higher at $69.30 a barrel. Brent crude rose 0.7 percent to $73.93 a barrel.

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This Week’s Market Buzz

• Source Energy Services Ltd. said that its sand volumes for the second quarter were 814,000 metric tonnes (MT), of which, approximately 85 percent were made through Source's Canadian distribution network or at customers' well sites. This brings Source's 2018 six-month sales volumes to 1,456,000 MT, after selling 643,000 MT in the first quarter of 2018.

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This Week’s Market Buzz

• Global benchmark Brent crude surged nearly $2 a barrel, lifted by concern about a steep drop in exports from Venezuela and worries OPEC may not raise production at its meeting this month. Brent crude futures settled up $1.96 a barrel, or 2.6 percent at $77.32. U.S. West Texas Intermediate crude rose $1.22, or 1.88 percent to $65.95 a barrel.

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This Week’s Market Buzz

• A privately funded project to add turning and auxiliary lanes on FM 874 in Winkler County, Texas, is about to begin. The work will be done at the entrance of Atlas Sand’s mine in Winkler County on FM 874 approximately 1.7 miles west of SH 115. “Winkler County is quickly becoming the frac sand hub of the Permian Basin. TxDOT has been an excellent partner in establishing an infrastructure solution that will alleviate traffic and safety concerns at our facility,” said Chris Scholla, vice president of supply chain and logistics for Atlas Sand. “This partnership with TxDOT is another example of Atlas Sand’s dedication to enriching our local communities.”

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This Week’s Market Buzz

• Athabasca Minerals Inc. entered into a Letter of Intent with a property owner in the town of Mayerthorpe, Alberta, Canada, for the Firebag Frac Sand Project storage and distribution hub.

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