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.

Tensions between Saudi Arabia and Iran aided in lifting prices off of the lows of the day

March 20, 2018
Recap: Trading in crude oil was choppy on Monday, with prices trading mostly to the downside. A significant sell-off came as the equity markets fell, putting traders into panic mode, which in turn pushed May WTI down 1.6% to a low of $61.36 a barrel, while May Brent slipped 1.2%, ... Read More
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The crude market wavered between gains and losses early in the session

March 19, 2018
Recap: The crude market traded mostly sideways for most of Friday’s session as it wavered between gains and losses early in the session.  However, the market posted a low of $61.08 and quickly bounced off that level, extending its gains to $1.24 as it rallied to $62.43 by mid-day ... Read More
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The oil market ended the session in positive territory for the second consecutive day

March 16, 2018
Recap: The oil market remained in its sideway trading pattern on Thursday and ended the session in positive territory for the second consecutive day.  The market posted a low of $60.82 in overnight trading but bounced off that level and rallied to a high of $61.54 in early mornin ... Read More
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The oil market fell in choppy trading, as a larger than expected build in crude stocks pressured prices lower

March 15, 2018
Recap: The oil market continued to trade within its sideways trading range on Wednesday, holding support at the $60 level.  The market traded higher early in the session as strong Chinese factory activity supported commodity markets.  China’s industrial output increased more than ... Read More
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Secretary of State, Rex Tillerson, being replaced by CIA Director, Mike Pompeo, may potentially have very big implications for both the Iran deal and US policy towards Venezuela

March 14, 2018
Recap: The oil market rallied higher on Tuesday morning on news that President Donald Trump fired Secretary of State Rex Tillerson. The Secretary of State’s firing increases risks to a multinational agreement to limit Iran’s nuclear capabilities, raising questions about potential ... Read More
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Early Monday morning crude and products were all in negative territory but bounced back and erased almost half of the morning's sell off

March 13, 2018
Recap: The bullish mood from Friday failed to firmly take root in the new trading week. While the crude oil market opened Sunday slightly higher the products did not and by the early hours of Monday morning the crude and the products were all in negative territory and continued t ... Read More
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For the first time in seven weeks the Baker Hughes drilling report showed a decline in the number of oil drilling rigs operating in the US

March 12, 2018
Recap: After a two day decline in the oil markets, the bulls came charging back into the market today, following a strong stock market. The equities market found positive news in a strong U.S. jobs report, along with the potential easing in geopolitical tensions surrounding the N ... Read More
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A strong rebound in the value of the dollar appeared to keep the oil market from gaining any real traction toward the upside

March 9, 2018
Recap: The bulls in the oil market remained on the defensive for the second day in a row.  While the stock market rebounded today, the strong rebound in the value of the dollar appeared to keep the oil market from gaining any real traction toward the upside. Then with the release ... Read More
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The market traded lower as US oil production increased to a record high of 10.369 million bpd on the week

March 8, 2018
Recap: The oil market on Wednesday traded mostly sideways in overnight trading before it breached its previous losses and sold off to $61.65 ahead of the release of the EIA’s weekly inventory report.  The market quickly pared its earlier losses following the release of the invent ... Read More
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The inventory report is expected to reflect an increase of 3 million barrels of oil

March 7, 2018
Recap: Oil prices were mixed on Tuesday, trading within a tight range ahead of the API inventory report. Brent was the stronger of the two blends, holding onto gains as Europe continues to cope with unseasonably cold weather. WTI traded on both sides of unchanged, ultimately hold ... Read More
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