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.

The EIA reported a 2 million barrel increase in U.S. crude oil inventories

September 11, 2020
Recap: Oil futures fell on Thursday after the EIA reported a 2 million barrel increase in U.S. crude oil inventories, stemming six consecutive weeks of declines, and heightening concerns of an oversupplied market amid continued uncertainty surrounding the outlook for demand. Volu ... Read More
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Oil prices bounced off of three-month lows on Wednesday

September 10, 2020
Recap: Oil prices bounced off of three-month lows on Wednesday, amid rising demand concerns, as the coronavirus continues to spread. October WTI gained as much as $1.70, or 4.6%, to trade at a session high of $38.46 a barrel, after falling almost 8% on Tuesday. November Brent tac ... Read More
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Oil prices slid to their lowest level since June

September 9, 2020
Recap: Oil prices slide to their lowest level since June on Tuesday, as Saudi Aribia cut its selling price amid a global rise in the number of coronavirus cases, which has stalled an economic recovery. Adding to the pressure was a dramatic drop in the U.S. stock market, which is ... Read More
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Oil prices experienced largest weekly loss since June

September 8, 2020
Recap: Oil futures fell on Friday, logging their largest weekly loss since June. Prices were pressured by a dismal U.S. jobs report, which showed that job growth continued to slow during the month of August, and as government officials have failed to agree on a new economic stimu ... Read More
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Oil prices fell as US employment data shows signs of slow economic recovery

September 4, 2020
Recap: Oil prices fell on Thursday, as U.S. unemployment data fueled fears of a slow economic recovery and as the U.S. stock market sharply sold off. Traders looked to the latest U.S. economic data for hints on the outlook for energy demand. On Thursday that data were mixed, with ... Read More
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WTI settled at its lowest level in almost a month

September 3, 2020
Recap: Oil prices fell on Wednesday, with WTI settling at its lowest level in almost a month, as the dollar weakened and concern over gasoline demand overshadowed the 9.4 million barrel drop in U.S. crude oil inventories. The drop in crude oil inventories was due to a record fall ... Read More
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Oil futures posted modest gains on Tuesday

September 2, 2020
Recap: Oil futures posted modest gains on Tuesday, with WTI settling higher for the fourth straight session, as some economic data show signs of recovery. Bullish manufacturing data out of China aided in reinforcing the view that East Asia continues to move closer to pre-COVID de ... Read More
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Signs of a slight increase in demand contributed to the fourth straight month of gains

September 1, 2020
Recap: Oil futures traded back in forth in a narrow range on Monday, with a mixed settlement. However, signs of a slight increase in demand contributed to the fourth straight month of gains. A stronger than expected increase in China’s service sector pulled prices off the lows of ... Read More
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The U.S. Bureau of Safety and Environment Enforcement said energy companies shut 84% of Gulf of Mexico crude oil output due to Hurricane Laura.

August 31, 2020
Recap: Oil futures posted modest losses on Friday, but gained on the week. Prices discounted the storm related premium as Hurricane Laura made landfall, leaving behind little damage to the oil industry. Weakness in the dollar couldn’t even provide support for this market, which h ... Read More
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Oil prices fell on Thursday stemming three straight sessions of gains

August 28, 2020
Recap: Oil prices fell on Thursday, stemming three straight sessions of gains, as traders anticipated a quick recovery for the energy market in the Gulf of Mexico after one of the strongest hurricanes in years made landfall near the heart of the U.S. refining industry. Production ... Read More
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