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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
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Gasoline
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The Oil Market on Monday Traded Lower and Remained Within Last Wednesday's Trading Range
November 28, 2023
Recap: The oil market on Monday traded lower and remained within last Wednesday’s trading range as traders awaited this week’s OPEC+ meeting. Last week, the market tumbled when OPEC+ decided to postpone its ministerial meeting until November 30th to iron out differences on produ ...
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The Oil Market Sold Off Sharply on Wednesday After OPEC+ Producers Delayed Their Scheduled Meeting
November 27, 2023
Recap: The oil market sold off sharply on Wednesday after OPEC+ producers delayed their scheduled meeting from Sunday until November 30th, signaling disunity among the producer group. While the group has delayed meetings before, the long delay indicates the difficulties within t ...
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The oil market on Tuesday consolidated its trading following back to back gains as traders turned cautious ahead of this week
November 22, 2023
Recap: The oil market on Tuesday consolidated its trading following back to back gains as traders turned cautious ahead of this week’s EIA crude stocks report and Sunday’s OPEC+ meeting. The market, which had retraced almost 38% of its move from a high of $88.37 to a low of $72.3 ...
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The oil market continued to retrace last week’s losses on Monday
November 21, 2023
Recap: The oil market continued to retrace last week’s losses on Monday as the market looked ahead to this weekend’s OPEC meeting scheduled for November 26th. The market traded higher in follow through strength seen on Friday after OPEC+ source said that the producer group is set ...
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The Market Fell Almost 5% to a Four Month Low on Concerns Over Demand
November 20, 2023
Recap: The oil market posted an inside trading day on Friday and settled higher but still posted its fourth consecutive week of losses. The market retraced some of its sharp losses posted on Thursday, when it fell almost 5% to a four month low on concerns over demand. The market ...
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Concerns Over Demand in Light of Some Weak Economic Data
November 17, 2023
Recap: The oil market on Thursday sold off sharply to its lowest level in four months amid concerns over demand in light of some weak economic data. The oil market, which traded lower on Wednesday on the build in crude stocks, traded sideways in overnight trading and posted a hi ...
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The Oil Market on Wednesday Erased Some of its Recent Gains Following the Larger Than Expected Builds in U.S. Crude Stocks
November 16, 2023
Recap: The oil market on Wednesday erased some of its recent gains following the larger than expected builds in U.S. crude stocks. The oil market traded to a high of $78.77 in overnight trading amid the news that China’s economic activity grew in October as industrial output inc ...
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The U.S. Dollar Fell on Data Showing Inflation Was Slowing
November 15, 2023
Recap: The crude market continued on its upward trend on Tuesday, retracing more of last week’s sharp losses after the IEA increased its demand growth forecasts and the U.S. dollar fell on data showing inflation was slowing. The IEA increased its oil demand growth forecasts for ...
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OPEC Issued a Report that Countered Concerns Over Declining Demand in the U.S. and China
November 14, 2023
Recap: The crude market on Monday continued to retrace last week’s losses after OPEC issued a report that countered concerns over declining demand in the U.S. and China. In its monthly report, OPEC said oil market fundamentals remained strong and blamed speculators for a fall in ...
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Traders Sought Buying Opportunities After the Market Fell to its Lowest Levels Since July
November 13, 2023
Recap: The crude market traded higher on Friday, as traders sought buying opportunities after the market fell to its lowest levels since July earlier this week. The crude market posted a low of $75.31 in overnight trading before it bounced off that level and retraced its previou ...
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