COVID-19 Response
Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies. Download PDF Reader.

The EIA lowered its 2020 forecast for WTI and Brent prices

April 8, 2020
Recap: Oil futures gave up early gains on Tuesday to settle lower, pressured after the EIA lowered its 2020 forecast for WTI and Brent prices and its outlook for domestic production for this year and next. The government agency cut its expectations for 2020 U.S. crude production ... Read More
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WTI fell for the first time in 3 sessions

April 7, 2020
Recap: WTI fell for the first time in 3 sessions after a meeting by key producers was pushed back to Thursday, contributing to uncertainty in the market, as traders await news of potential crude production cuts OPEC+ was slated to meet on Monday in an effort to resolve the growin ... Read More
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U.S. prices tallied a weekly gain of almost 32%

April 6, 2020
Recap: Oil futures surged on Friday, with U.S. prices tallying a weekly gain of almost 32%. Prices extended their Thursday rally on growing expectations that major oil producers will reach an agreement to significantly cut production levels as efforts to slow the spread of COVID- ... Read More
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Oil price jumped on Thursday

April 3, 2020
Recap: Oil price jumped on Thursday after U.S. President Donald Trump tweeted that he had brokered a deal between Saudi Arabia and Russia that would take at least 10 million barrels of production off the market. Neither country has stepped forward to confirm this tweet. The quest ... Read More
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The EIA reported a 13.8 million barrel build in U.S. crude oil inventories

April 2, 2020
Recap: Oil prices fell on Wednesday after the EIA reported a 13.8 million barrel build in U.S. crude oil inventories, the largest gain since 2016 while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic. Gasoline demand fell by the most ever in ... Read More
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Oil futures climbed off of 18-year lows on Tuesday

April 1, 2020
Recap: Oil futures climbed off of 18-year lows on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin spoke about efforts to fight the spread of the coronavirus and stabilize the crude oil market and after China reported strong manufacturing data. May ... Read More
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Global crude oil prices dropped to their lowest level in 18 years

March 31, 2020
Recap: Global crude oil prices plummeted on Monday to their lowest level in 18 years amid continued concerns over the impact the coronavirus pandemic was having on demand and as the price war between Russia and Saudi Arabia remained unresolved. May WTI fell 6.6%, or $1.42, to set ... Read More
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A fall in prices came despite the passing of a fiscal stimulus package by the U.S. House

March 30, 2020
Recap: Oil prices plunged for the fifth straight week, as a huge drop in global demand, fed by the coronavirus, continues to wreak havoc on the world’s economy. The fall in prices came despite the passing of a fiscal stimulus package by the U.S. House, which is expected to ease e ... Read More
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Crude oil prices pared early gains on Thursday

March 27, 2020
Recap: Crude oil prices pared early gains on Thursday after the U.S. Department of Energy ditched plans to buy oil for the Strategic Petroleum Reserve, and after the head of the IEA said global demand could drop as much as 20 million barrels per day, or 20% of total demand, as th ... Read More
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Crude oil futures rose for the second straight session

March 25, 2020
Recap: Crude oil futures rose for the second straight session, but gains were contained as the coronavirus pandemic’s heavy toll on demand offset hopes for a forthcoming $2 trillion U.S. economic stimulus package. Prices continue to reel from the unexpected price war between Saud ... Read More
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