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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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U.S. President Donald Trump called on OPEC to boost output in an effort to lower prices
March 29, 2019
Recap: Oil prices slipped on Thursday, as U.S. President Donald Trump called on OPEC to boost output in an effort to lower prices, which are set to finish with their best quarterly gains in a decade. Futures hit a session low immediately following Trump’s comments, but worked the ...
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EIA reported a surprise build in U.S. crude oil inventories
March 28, 2019
Recap: Oil prices headed lower on Wednesday after the EIA reported a surprise build in U.S. crude oil inventories. May WTI fell $1.24, as it slowly slipped to a session low of $58.81 a barrel after the report showed a 2.8 million barrel build in crude oil stockpiles. Analysts wer ...
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Traders responded to news about falling exports out of Venezuela and Iran
March 27, 2019
Recap: WTI continued its gravitational pull toward $60.00 a barrel, as geopolitical strife outweighed economic concern. Traders responded to an array of news which included falling exports out of Venezuela and Iran, tensions heating up along the Gaza Strip and expectations that U ...
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Oil prices staged a comeback as investors focused on tighter supplies and falling U.S. crude oil inventories
March 26, 2019
Recap: Oil prices were mostly flat on Monday due to a lack of fresh fundamentals. After opening the session trading below unchanged, oil prices staged a comeback as investors focused on tighter supplies and falling U.S. crude oil inventories. By 11:56 EST, May WTI rose to a sessi ...
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Oil prices pulled back from four month highs
March 25, 2019
Recap: Oil prices continued to slip on Friday, pulling back from four month highs as the dollar and U.S. treasuries rose amidst falling stocks. This appears to have sparked fears of a recession, thereby raising concern regarding demand. After a lower opening, prices attempted to ...
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Oil prices turned lower as global trade tensions continue to loom over the market
March 22, 2019
Recap: After climbing to a fresh 2019 high on Thursday, oil prices turned lower as global trade tensions continue to loom over the market. May WTI rose to a high of $60.39 a barrel, while May Brent peaked the session at $68.70 a barrel. By 11:30 EST, gains were pared, with both W ...
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The EIA report showed a draw in 9.6 million barrels in U.S. crude oil inventories
March 21, 2019
Recap: Trading in oil futures was erratic on Wednesday, with prices trading to the downside in early morning trading and then posting fresh four month highs after the release of the EIA report, which showed a draw of 9.6 million barrels in U.S. crude oil inventories. May WTI rapi ...
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OPEC and non-OPEC members are struggling to maintain a balance between supply and demand
March 20, 2019
Recap: U.S. sanctions against Iran and Venezuela, combined with OPEC led supply cuts, pushed prices to fresh highs for the year. By 07:09 EST, April WTI reached a session high of $59.57 a barrel, surpassing the unchanged mark by 48 cents, while May Brent tacked on 68 cents, to po ...
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Oil prices edged higher on Monday, supported by signs of inventory declines at Cushing
March 19, 2019
Recap: Oil prices edged higher on Monday, supported by signs of inventory declines at Cushing and the prospect that the OPEC led production cuts will be extended. The Joint Ministerial Monitoring Committee of oil producers on Monday reported a sizeable improvement in compliance w ...
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The IEA released a report stating that output had fallen by 240,000 barrels per day last month
March 18, 2019
Recap: After posting a fresh four month high on Friday, WTI slipped as much as 1.4 percent to a session low of $57.74 a barrel, while Brent fell as much as 1.6 percent, posting a session low of $66.13 a barrel. Concern over a slowing global economy and hearty U.S. production weig ...
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