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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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Market Insights
Heating Oil
Gasoline
Crude
Weekly crude inventories rose less than expected
May 7, 2020
Recap: Crude-oil futures settled lower Wednesday, with the U.S. benchmark snapping a five-session streak of gains, pressured by concerns over tightening oil-storage capacity even though weekly crude inventories rose less than expected and domestic production declined. Oil prices ...
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Heating Oil
Gasoline
Crude
Oil prices jumped more than 20% on Tuesday
May 6, 2020
Recap: Oil prices jumped more than 20% on Tuesday, marking the fifth straight session of gains, as investors placed bets on the slowdown in production and an increase in demand as lockdowns due to the coronavirus are rolled back. This is in stark contrast to what forced prices lo ...
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Heating Oil
Gasoline
Crude
Oil prices pivoted between gains and losses on Monday
May 5, 2020
Recap: Oil prices pivoted between gains and losses on Monday, as traders grapple with the recent announcement of voluntary production cuts by U.S. oil firms amid weak demand and heightening tensions between the U.S. and China over China’s handling of the coronavirus pandemic. Wit ...
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Heating Oil
Gasoline
Crude
Prices firmed this week as producers increase efforts to cut output
May 4, 2020
Recap: Oil futures rose on Friday, with June WTI reaching an intraday high of $20.48 a barrel and July Brent trading close to $28 a barrel. Prices firmed this week as producers increase efforts to cut output as parts of the global economy begin to open up amid the coronavirus pan ...
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Heating Oil
Gasoline
Crude
Fuel demand worldwide slumped about 30% in April
May 1, 2020
Recap: After what was perhaps the most volatile month in the history of oil trading, April culminated in oil prices paring losses, as production cuts among some major producers eased concern over a global supply glut amid shrinking storage. With oversupply woes slowly easing and ...
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Heating Oil
Gasoline
Crude
U.S. oil futures surged by more than 20% on Wednesday
April 30, 2020
Recap: U.S. oil futures surged by more than 20% on Wednesday after government data showed a smaller than expected build in U.S. crude stockpiles and a surprise draw in gasoline inventories. Oil prices were also lifted by hopes for a rebound in demand, as some countries begin to e ...
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Heating Oil
Gasoline
Crude
Oil futures were mixed on Tuesday
April 29, 2020
Recap: Oil futures were mixed on Tuesday, with Brent gaining support as some governments announced the easing of coronavirus related restrictions and WTI falling as U.S. stockpile rise toward record highs amid tightening storage and waning demand. June WTI gave up early gains spa ...
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Electricity
Heating Oil
Gasoline
U.S. oil futures dropped by almost 25% on Monday
April 28, 2020
Recap: U.S. oil futures plunged by almost 25% on Monday on renewed concern over the dearth in storage facilities available to store the oversupply of crude. June WTI fell to its second lowest settlement on record. Market liquidity is proven to be a problem, with the United States ...
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Heating Oil
Gasoline
Crude
Oil producers cut the number of rigs in the U.S. and Canada
April 27, 2020
Recap: Oil prices rose on Friday as oil producers cut the number of rigs in the U.S. and Canada. However, both Brent and WTI fell for third straight week as global production shutdowns failed to keep pace with the collapse in demand caused by the coronavirus pandemic. Market part ...
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Heating Oil
Gasoline
Crude
Oil futures extended their rally on Thursday
April 24, 2020
Recap: Oil futures extended their rally on Thursday as proposed production cuts by OPEC+ began to take hold as tensions between the U.S. and Iran heat up. Oil prices have succumbed to tremendous pressure caused by depletion in demand due to Covid19 and a flooding of the market by ...
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