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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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Data showed that Chinese crude oil imports rose to the equivalent of 11.8 million barrels per day in September
October 14, 2020
Recap: Oil prices ended higher on Tuesday, as data from China showed a jump in Chinese crude imports. WTI recaptured the $40 level after data showed that Chinese crude oil imports rose to the equivalent of 11.8 million barrels per day in September. November WTI settled at $40.20 ...
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Oil prices slipped to their lowest level in a week on Monday
October 13, 2020
Recap: Oil prices slipped to their lowest level in a week on Monday, as production in Norway, Libya and the Gulf of Mexico began to recover. WTI traded back below $40 a barrel, as the strike in Norway ended, while Libya lifted its force majeure and as production in the Gulf of Me ...
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The Bureau of Safety and Environmental Enforcement reported that personnel have been evacuated from a total of 274 production platforms
October 12, 2020
Recap: The oil markets were on a bit of a rollercoaster today. While the movement of Hurricane Delta across the Gulf of Mexico as a Category 2 or 3 hurricane and its approach to the Louisiana coast continued to provide underlying support to the market, the midday news that Norweg ...
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Saudi Arabia is reviewing and potentially delaying its support for higher crude oil production levels by OPEC+ early next year
October 9, 2020
Recap: The oil markets continued to trend higher throughout the day Thursday, driven higher by several factors, the first, the continued march of Hurricane Delta through the center of energy production fields in the Gulf of Mexico and shutting down some 1.7 million b/d or 91% of ...
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Hurricane Delta shut more than 80% of U.S. Gulf offshore crude oil production
October 8, 2020
Recap: Oil futures settled lower on Wednesday, but losses were pared as Hurricane Delta shuts more than 80% of U.S. Gulf offshore crude oil production. November WTI had gained ground $40 a barrel prior to the release of the EIA report, but dipped to a fresh session low after the ...
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Oil futures jumped 6% on Monday
October 6, 2020
Recap: Oil futures jumped 6% on Monday, as traders weigh the prospect for another round of stimulus in the U.S. while they also monitor President Trump’s health, which is said to be improving. Also adding support is the strike in Norway, which is curtailing crude oil output, and ...
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Oil futures fell on Friday following news that President Donald Trump has contracted COVID-19
October 5, 2020
Recap: Oil futures fell on Friday following news that President Donald Trump has contracted COVID-19, adding pressure to a market that has already been dipping on concerns about the number of rising cases worldwide and its impact on demand. This news sent a wave of uncertainty th ...
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Further shutdowns due to the spread of coronavirus cases across the globe fueled demand concerns
October 2, 2020
Recap: Oil futures fell on Thursday, as the potential of further shutdowns due to the spread of coronavirus cases across the globe fueled demand concerns. Oil futures were sharply lower, with prices posting their lowest settlement in two-weeks. November WTI fell $1.50, or 3.7%, t ...
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The EIA reported the third consecutive weekly decline in U.S. crude oil inventories
October 1, 2020
Recap: Oil futures gained on Wednesday after the EIA reported the third consecutive weekly decline in U.S. crude oil inventories. However, prices suffered their first monthly decline since April amidst rising concerns over the global spreading of the coronavirus. November WTI ros ...
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Oil futures fell to their lowest level in two weeks
September 30, 2020
Recap: Oil futures fell sharply on Tuesday, to their lowest level in two weeks, as investors worried about the rising number of COVID-19 cases throughout the globe, which will surely impact demand for oil and its products. Investors were cautious ahead of Tuesday night’s first pr ...
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