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.

Oil prices jumped on Wednesday

February 4, 2021
Recap: Oil prices jumped on Wednesday, finishing the session at their highest level in a year, gaining support from the modest build in U.S. crude oil inventories and expectations that economic stimulus measures will increase demand for oil. Backwardation conditions, where the fr ... Read More
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Oil futures rose to their highest level in over a year

February 3, 2021
Recap: Oil futures rose to their highest level in over a year on Tuesday, propelled higher by expectations that efforts to cut output by OPEC and other major producers will aid in reducing supplies and help push the market in to a supply shortage. According to reports, the produc ... Read More
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Oil futures traded higher on Monday

February 2, 2021
Recap: Oil futures traded higher on Monday amid strong commitments by Saudi Arabia in cutting back on oil production and reports that President Biden put a pause on new oil and gas leases on federal lands and waters, suggesting a “rigorous review.” This means less supply in the m ... Read More
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Baker Hughes reported that the U.S. oil drilling rig count increased by 6 to 295

February 1, 2021
Recap: Oil prices continue to struggle to the upside, as they went back and forth during the week. As there is persistent resistance above this market, there are signs that it may be running out of steam. Adding pressure to the market were weaker equities amid lingering concerns ... Read More
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Oil futures bounced around on Thursday

January 29, 2021
Recap: Oil futures bounced around on Thursday, looking for direction, as traders gage the effects of the latest EIA report against the effects of the widely spreading coronavirus and its impact on demand. Prices dipped early in the session due to new COVID-19 related travel restr ... Read More
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The EIA reported that U.S. crude oil inventories showed an unexpected massive draw in inventories

January 28, 2021
Recap: Oil prices were trading steady on the opening on hopes that the U.S. government would reach an agreement on a stimulus package and an improvement in the number of COVID-19 cases in China. Prices turned to the downside as the U.S. dollar strengthened and demand for riskier ... Read More
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Oil futures ended mixed on Tuesday

January 27, 2021
Recap: Oil futures ended mixed on Tuesday, with WTI coming under pressure, while Brent held on to gains, as supply concerns, as well as demand dominated market activity. Traders are hoping that President Biden will get his stimulus plan approved soon, which provided some support ... Read More
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Oil futures traded higher on Monday

January 26, 2021
Recap: Oil futures traded higher on Monday, buoyed by optimism over a U.S. stimulation package and supply concerns after it was reported that OPEC and its allies were within 85% compliance with the agreed upon output cuts. Adding to the higher move was the seizure of an Iranian f ... Read More
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Baker Hughes reported that the oil and gas rig count increased by 5 to 378

January 25, 2021
Recap: Oil futures retreated on Friday, turning lower for the week, weighed down by an unexpected build in U.S. crude oil inventories and worries over a resurgence of coronavirus cases in China and its economic impact. An end of the year surge in China’s demand for oil supported ... Read More
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The API reported an unexpected build in U.S. crude oil inventories

January 22, 2021
Recap: It was a lackluster trading session for oil prices on Thursday despite an unexpected build in U.S. crude oil inventories as reported by the API. Oil futures ended mixed, with WTI slightly lower, while Brent posted a modest gain ahead of Friday’s EIA inventory report, delay ... Read More
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