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Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies.
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Market Insights
Heating Oil
Gasoline
Crude
The U.S. Energy Information Administration Reported an Increase of 1.7 Millions Barrels
January 6, 2023
Recap: Oil futures rose on Thursday after the U.S. Energy Information Administration reported an increase of 1.7 million barrels for the week to December 30. This puts U.S. crude oil inventories at 420.6 million barrels, 4 percent below the seasonal five-year average. Oil prices ...
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Heating Oil
Gasoline
Crude
Concerns About Immediate Global Oil Demand Intensified
January 5, 2023
Recap: Oil prices crashed early on Wednesday, with Brent crude falling below the $80 a barrel mark again, as concerns about immediate global oil demand intensified with soaring COVID cases in China and slowing economies globally. On Wednesday, oil prices continued the Tuesday rou ...
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Natural Gas
Basis
NYMEX
February NYMEX Natural Gas Futures Contract Closed at $4.172 on Wednesday, January 4th
January 5, 2023
Wednesday, January 4th saw the February NYMEX Natural Gas Futures Contract open at $4.042, five cents above Tuesday’s closing price of $3.988. Tallying the intraday low of $4.000 by 10:00AM, prices then rose to trade along the $4.15 level ahead of midday. Despite overnight foreca ...
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Market Insights
Natural Gas
Basis
NYMEX
February NYMEX Natural Gas Futures Contract Closed at $3.988 on Tuesday, January 3rd
January 4, 2023
Tuesday, January 3rd saw the February NYMEX Natural Gas Futures Contract open at $4.007, forty-seven cents below Friday’s closing price of $4.475. Hindered once again by bearish conditions that are expected to last at least another ten days, prices dropped sharply overnight. Post ...
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Market Insights
Heating Oil
Gasoline
Crude
The Market Sold Off Sharply on Tuesday
January 4, 2023
Recap : The oil market sold off sharply on Tuesday following the long New Year’s holiday weekend. The market was pressured by weak demand data from China and a gloomy economic outlook. China’s government raised its export quotas for refined oil products in the first batch for 202 ...
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Natural Gas
Basis
NYMEX
February NYMEX Natural Gas Futures Contract Closed at $4.475 on Friday, December 30th
January 3, 2023
The January NYMEX Natural Gas Futures Contract settled at $4.709 on Wednesday December 28th. Markets were closed yesterday in observance of the New Year holiday. Friday, December 30rd saw the February NYMEX Natural Gas Futures Contract open at $4.475, eight cents below Thur ...
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Market Insights
Heating Oil
Gasoline
Crude
WTI Finished the Year Above $80 a Barrel
January 3, 2023
Recap: WTI finished the year above $80 a barrel, with the February contract climbing $1.86, or 2.37%, to close the session at $80.26 a barrel. This represents a gain of $5.05 per barrel, or 6.71% to $80.26 this year. Brent tacked on $8.13, or 10.45% this year, gaining $2.45, or 2 ...
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Heating Oil
Gasoline
Crude
Oil Futures Fell Despite a Weak Dollar and Strong Equities
December 30, 2022
Recap : Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with COVID-19 infections spreading in the top oil-importing nation. Oil futures fell despite a weak dollar and strong e ...
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Heating Oil
Gasoline
Crude
Oil Futures Ended Lower on Wednesday
December 29, 2022
Recap: Oil futures ended lower on Wednesday, with optimism over the demand outlook stemming from China’s continued relaxation of COVID-19 curbs offset by a surge in cases of the disease. A somewhat firmer dollar also lent pressure to this market. Earlier this month, China moved ...
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Heating Oil
Gasoline
Crude
Severe Weather in the U.S. Cut Into Output Amid Some Outages
December 28, 2022
Recap: Oil futures pulled back from early gains in a thinly traded market, as investors have been trying unsuccessfully for a month to gauge exactly when the Chinese economy may emerge from COVID restrictions. Oil prices had gained earlier in the session as severe weather in the ...
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