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This Week’s Market Buzz


•    Oil prices have risen sharply, supported by supply risks brought about by last weekend’s drone attacks on Saudi oil infrastructure and a cut in U.S. interest rates. Brent crude futures gained $1.33 to $64.91 a barrel, while U.S. West Texas Intermediate crude was up 56 cents at $58.75 a barrel.

•    Covia has closed on the sale of the Winchester and Western Railroad to an affiliate of OmniTRAX Inc. Gross proceeds are $105 million in cash, subject to certain post-closing adjustments as set forth in the definitive agreement. As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars.

•    Athabasca Minerals Inc. (AMI) appointed Terrance Kutryk, MBA, ICD.D to the corporation’s board of directors, effective Sept. 5, and subject to TSX Venture Exchange final approval. Kutryk brings a track record of executive leadership in industry covering energy, midstream, transportation & logistics, and marketing sectors that includes career experience with project joint ventures and project governance. These skillsets support the needs of AMI’s board in relation to Athabasca’s base aggregates division; AMI Silica Inc.’s in-basin projects; and Aggregates Marketing Inc.’s technology-enabled “midstream” business model.