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.

Traders Weighed Demand Expectations Following the Latest U.S. Economic Data

January 25, 2023
Recap: The oil market traded lower on Tuesday as traders weighed demand expectations following the latest U.S. economic data. S&P Global reported that U.S. business activity contracted in January for the seventh consecutive month. Also, spurring concerns of a U.S. recession, the ... Read More
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The Oil Market Extended Last Week's Gains as the Market Remained Supported by Optimism

January 24, 2023
Recap:  On Monday, the oil market extended last week’s gains as the market remained supported by optimism over China’s expected economic recovery following its reopening. Data shows an increase in travel in China after COVID-19 curbs were eased, with road traffic congestion in th ... Read More
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The Oil Market Continued on its Upward Trend and Settled Higher for a Second Consecutive Week

January 23, 2023
Recap:  The oil market on Friday continued on its upward trend and settled higher for a second consecutive week as it remained well supported by the economic prospects for China and the expectations of an increase in its fuel demand following the lifting of the COVID-19 restricti ... Read More
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An Unexpected Increase in Crude Stocks Weighed on the Market

January 20, 2023
Recap:  On Thursday, the oil market extended its losses seen on Wednesday as an unexpected increase in crude stocks weighed on the market along with concerns over possible recession following U.S. retail sales and output data. The crude market opened lower and continued to trend ... Read More
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The Market Weighed Concerns Over a Possible Recession

January 19, 2023
Recap: The oil market ended the session lower on Wednesday as the market weighed concerns over a possible recession against expectations that the lifting of China’s COVID-19 restrictions will lead to a fuel demand recovery. Early in the session, the market was well supported by t ... Read More
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The Market Continued on its Upward Trend on Tuesday

January 18, 2023
Recap: The oil market continued on its upward trend on Tuesday following Monday’s shortened trading session due to the Martin Luther King, Jr. holiday. The market was supported as easing COVID restrictions in China raised hopes of a demand recovery in the world's top crude import ... Read More
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European Union Prepares to Stop Fuel Imports from Russia

January 17, 2023
Recap: There are no settlements due to the Martin Luther King, Jr. holiday. Fundamental News:  IIR Energy reported that U.S. oil refiners are expected to shut in about 1,213,000 bpd of capacity in the week ending January 20th, cutting available refining capacity by 383,000 bpd ... Read More
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The U.S. Dollar Fell to a Nine-Month Low

January 16, 2023
Recap:  The oil market continued on its upward trend as the U.S. dollar fell to a nine-month low a day after data showed that inflation fell for the first time in 2-½ years and indications of increasing demand in China. Recent crude purchases from China and an increase in road tr ... Read More
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The Oil Market Continued on its Upward Trend on Thursday

January 13, 2023
Recap:  The oil market continued on its upward trend on Thursday in follow through strength seen on Wednesday amid concerns over the impact of sanctions on Russian crude output. The market was further supported by expectation of increasing demand in China that could give a boost ... Read More
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The Oil Market Rallied Higher

January 12, 2023
Recap:  The oil market rallied higher as concerns over the impact of sanctions on Russian crude output outweighed a large unexpected build in crude stocks. The market was supported by reports indicating that G7 countries could soon target Russian refined products with sanctions i ... Read More
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