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 futures traded mostly lower on Friday

September 28, 2020
Recap: Oil futures traded mostly lower on Friday, posting a weekly loss, as demand woes tied to the coronavirus pandemic kept a lid on prices, while signs of tighter supplies kept WTI above $40 a barrel. Trader concern remains focused on the health of the global economy, as the n ... Read More
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Oil futures rose for the third straight session

September 25, 2020
Recap:Oil futures rose for the third straight session, supported by the bullish inventory report released on Wednesday. However gains were limited, as a new wave of coronavirus cases in Europe led several countries to reinstate travel restrictions. After falling to a session low ... Read More
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The oil markets overnight and this morning were supported by bullish inventory reports

September 24, 2020
Recap: The oil markets overnight and this morning were supported by bullish inventory reports first released by API and then by the EIA. But as it appeared the bullish move was running out of steam at midday the oil markets suddenly shot up over a dollar a barrel only to quickly ... Read More
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Prices bounced back from Monday’s sharp decline off of the rise in the number of COVID-19 cases

September 23, 2020
Recap: It was a lackluster day for oil prices on Tuesday, with the market garnering little support from expectations for a second weekly decline in U.S. crude oil inventories. Prices bounced back from Monday’s sharp decline off of the rise in the number of COVID-19 cases, as some ... Read More
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Oil prices fell as U.S. equities hit a two-month low

September 22, 2020
Recap: Oil futures settled lower on Monday, as U.S. equities fell to a two-month low as the number of coronavirus cases continued to rise across the globe. Prices were also pressured by the possible return of crude output from Libya following reports that Libyan military commande ... Read More
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Baker Hughes reported that the oil and gas rig count increased by 1 to 255

September 21, 2020
Recap: After opening slightly lower on the day, oil prices reversed to the upside, supported by bullish signals out of this week’s OPEC meeting. However, gains were capped after Libyan commander said a blockade on the country’s oil exports would be lifted in a month. Oil markets ... Read More
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OPEC+’s regularly scheduled monthly joint committee meeting sent oil prices skyrocketing on Thursday

September 18, 2020
Recap: Strong words out of OPEC+’s regularly scheduled monthly joint committee meeting sent oil prices skyrocketing on Thursday, as its members reassured the oil industry that it was committed to full compliance with agreed upon output cuts. The most notable change was the commit ... Read More
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The EIA reported a 4.4 million barrel draw in U.S. crude oil inventories

September 17, 2020
Recap: Oil futures climbed more than 4% on Wednesday after the EIA reported a 4.4 million barrel draw in U.S. crude oil inventories, while Hurricane Sally curtailed production in the Gulf of Mexico, as offshore production was taken off line. The drop in crude oil was a surprise, ... Read More
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The IEA lowered its 2020 outlook for demand by 200,000 barrel per day

September 16, 2020
Recap: Oil futures rose on Tuesday, getting a boost from supply disruptions due to Hurricane Sally, which shut in more than a quarter of offshore crude production in the Gulf of Mexico and several refineries. The up move was limited by demand concerns, which pushed prices off of ... Read More
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The Bureau of Safety and Environmental Enforcement said Hurricane Sally forced energy firms to shut in 21.4% of offshore crude oil production in the northern Gulf of Mexico

September 15, 2020
Recap: The trading session on Monday was subdued as demand concerns tied to the pandemic eclipsed any damage concerns due to Hurricane Sally, which is approaching the Gulf of Mexico, except for a brief stint to the upside, oil prices were lower for most of the session, with the p ... Read More
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