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.

Fuel demand rose to 19.37 million b/d last week

August 13, 2020
Recap: The oil markets finished higher Wednesday, led by the gasoline market which finished up 3.3% followed by a 2.5% and a 1.5% gain recorded respectively in crude oil and heating oil. The positive demand numbers for the week ending August 7th released by the EIA this morning h ... Read More
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The EIA reported that U.S. crude oil production is expected to fall by 990,000 bpd in 2020

August 12, 2020
Recap: The oil markets over night and early this morning were supported by the news that Russia claimed it was the first country to grant regulatory approval to a COVID-19 vaccine. But as the day wore on the bulls began to flee the market as precious metals values were evaporatin ... Read More
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Oil markets finished the day higher finding support from positive economic news

August 11, 2020
Recap: Like most commodity and equity markets today, the oil markets finished the day higher finding support from positive economic news coming out of China earlier in the day, as well as indications that budget talks in Washington still were not dead. While the September heating ... Read More
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A better than expected U.S. jobs report and a stronger dollar were not enough to hold up prices

August 10, 2020
Recap: Oil futures traded lower on Friday as tensions between the U.S. and China heated after President Trump imposed a ban on dealings with the owners of TikTok and WeChat, amid rising cases of the coronavirus. A better than expected U.S. jobs report and a stronger dollar were n ... Read More
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Oil prices were mixed for most of the session on Thursday

August 7, 2020
Recap: Oil prices were mixed for most of the session on Thursday, but managed to hover near five-month highs, gaining support from a weak dollar, and Iraq’s planned production cuts, as traders weighed in on a surprising fall in U.S. weekly first-time jobless claims. Trading was c ... Read More
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The EIA reported a 7.4 million barrel draw in U.S. crude oil inventories

August 6, 2020
Recap: Oil futures jumped to their highest level in five months after the EIA reported a 7.4 million barrel draw in U.S. crude oil inventories and as the dollar weakened against a basket of currencies. September WTI gained as much as 4.3%, rising to a session high of $43.52 after ... Read More
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Oil prices closed at their highest level since March

August 5, 2020
Recap: Oil prices moved higher on Tuesday, to close at their highest level since March, as traders awaited data on U.S. crude oil inventories and on hopes U.S. government officials are moving closer to reaching a new economic stimulus package. September WTI bounced from a low of ... Read More
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Concern over the spread of COVID-19 and rising output from within OPEC limited gains

August 4, 2020
Recap: Oil prices rose on Monday on upbeat economic news out of the U.S; Europe and Asia however, concern over the spread of COVID-19 and rising output from within OPEC limited gains. Oil prices erased early losses after the Institute for Supply Management showed a jump in its ma ... Read More
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Baker Hughes reported a drop of 1 in the number of active U.S. oil rigs

August 3, 2020
Recap: September WTI climbed back above $40, in what was a choppy trading session, as prices seesawed above and below unchanged. Oil prices were also boosted by a slump in the dollar and maintained gains after Baker Hughes reported a drop of 1 in the number of active U.S. oil rig ... Read More
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Oil prices fell as oil producers begin to relax output restrictions

July 31, 2020
Recap:  Oil prices slipped on Thursday as fear of resurgence in global COVID-19 cases put demand front and center as major oil producers begin to relax output restrictions. The dismal jobs report and worse than expected GDP in the U.S. added to demand concerns. September WTI fell ... Read More
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