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 reported an unexpected 3.5 million barrel increase in U.S. crude oil inventories

January 30, 2020
Recap: Oil prices were mixed on Wednesday with WTI posting losses after the EIA reported an unexpected 3.5 million barrel increase in U.S. crude oil inventories, the largest increase since November. Meanwhile, Brent held on to gains on the back of reported conflicts in the Middle ... Read More
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Reports circulated that OPEC and its allies were weighing in on the possibility of deeper output cuts

January 29, 2020
Recap: After dipping by almost 1%, oil prices gained support, as the stock market rebounded and as reports circulated that OPEC and its allies were weighing in on the possibility of deeper output cuts. March WTI rose toward $54.00, to peak the session at $53.92 before trimming ga ... Read More
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Oil futures fell for a fifth straight session on Monday

January 28, 2020
Recap: Both crude benchmarks have slipped to lows not seen since early October, as oil traders closely monitor the outbreak of a deadly pneumonia-like virus. Oil futures fell for a fifth straight session on Monday, as concern over the economic impact of the coronavirus has fed ex ... Read More
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Crude oil prices fell by more than 3% on Friday

January 27, 2020
Recap: Crude oil prices fell by more than 3% on Friday, with Brent heading toward $60.00 a barrel and with WTI breaching the $54.00 level for the first time since November, as concerns that the coronavirus, which is spreading in China, will spread farther, curbing travel and oil ... Read More
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Oil prices fell on concern that the spread of a virus from China could lower fuel demand

January 24, 2020
Recap: Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories. March WTI fell as much as $1.97 or 3.4% to a low of $54.77, the lowest lev ... Read More
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Oil prices slipped as much as 3%

January 23, 2020
Recap: Oil prices slipped as much as 3% as the International Energy Agency forecasted a surplus in supplies and as demand worries overshadowed concern over disruptions to Libya’s crude output. Adding pressure to the market is the spreading of the coronavirus, which originated in ... Read More
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Investors worry about rising global supplies and a potential slowdown in global economic growth

January 22, 2020
Recap: Crude oil prices finished lower on Tuesday as investor worries about rising global supplies and a potential slowdown in global economic growth overshadowed a supply disruption in the Middle East due to unrest in Libya and Iraq. Crude oil futures experienced a brief stint t ... Read More
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The next meeting between representatives of the OPEC+ group of oil producers will take place in March

January 21, 2020
Fundamental News: OPEC’s Secretary General, Mohammad Barkindo, said the next meeting between representatives of the OPEC+ group of oil producers will take place in March.  He said none of the participants had asked for the time of the meeting to be changed. Oil supply disrupti ... Read More
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Baker Hughes reported that US energy firms added oil rigs for the first time in four weeks

January 20, 2020
Recap: Oil futures ended with a modest gain on Friday, but registered a loss for a second week in a row as traders continued to weigh the prospects for energy demand in the wake of the China-U.S. trade deal and Senate approval of the U.S.-Mexico-Canada trade pact this week. The r ... Read More
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Prices gathered strength after the U.S. and China signed the first phase of their trade deal

January 17, 2020
Recap: Oil prices bounced back on Thursday, after settling at their lowest level since December. Prices gathered strength after the U.S. and China signed the first phase of their trade deal and after the U.S. Senate approved the U.S.-Mexico-Canada Agreement. In essence, oil price ... Read More
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