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Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies. Download PDF Reader.

The market appears to be rebalancing sooner than expected

February 2, 2018
Recap: Oil prices bounced on Thursday, having been propped up by several factors. Among these factors were signs that OPEC members are adhering to their agreed upon output cuts, Goldman Sachs raising its price forecast for Brent from $62 a barrel to $82.50 a barrel and strong pro ... Read More
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Oil prices are beginning to show signs of weakening

January 31, 2018
Recap: After rising to 3-year highs, oil prices are beginning to show signs of weakening, as investors exit record length and U.S. production continues to strengthen. Prices may very likely be in a corrective phase, as it appears that price movement has gotten ahead of the true u ... Read More
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The market remained weighed down by an increase in the number of rigs searching for oil in the US

January 30, 2018
Recap: The oil market traded higher on the opening and rallied to a high of $66.46 in overnight trading after the market breached its previous high.  However, the market erased its gains and sold off to a low of $64.98 by mid-day as the market remained weighed down by an increase ... Read More
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The dissipation of cold weather that has been plaguing the U.S. could lead to a free fall in prices

January 29, 2018
Recap: Oil prices retreated from three year highs on Friday, but finished the session with posted gains, as the dollar weakened and the U.S. rig rose. Oil prices settled at their highest weekly settlement since November of 2014. March Brent topped $70 a barrel, during the week, b ... Read More
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Oil prices moved to their highest level in more than 3 years

January 26, 2018
Recap: Oil prices climbed to their highest level in more than 3-years, but remarks about the U.S. dollar by President Trump pushed the dollar higher, which in turn pressured oil prices. March WTI topped the session at $66.66 a barrel, while Brent for March delivery peaked at $71. ... Read More
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Oil prices experienced the largest weekly loss since October

January 22, 2018
Recap:  After reaching their highest level in over 3 years, oil prices experienced their largest weekly loss since October. Despite tightening global supplies, U.S. production continues to soar, counterbalancing output cuts by OPEC and its allies. Prices came under pressure early ... Read More
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U.S. crude oil inventories showed a decrease of 6.9 million barrels

January 19, 2018
Recap: Near record U.S. crude oil production offset the ninth straight week of declines in U.S. crude oil stocks, leaving oil prices close to unchanged. February WTI was trading at $63.47 a barrel prior to the release of the report, but jumped upon its release, which showed a dec ... Read More
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Oil prices finished higher on Wednesday

January 18, 2018
Recap: Oil prices finished higher on Wednesday, as traders await the release of the EIA report, which was delayed a day due to the U.S. Martin Luther King Jr. Day Holiday. Expectations are calling for the ninth straight week. Despite trading below its 10-day moving average, March ... Read More
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Russia's Foreign Minister stated that Russia will not support attempts by the US to change the Iran nuclear agreement

January 16, 2018
Recap: Please note there are no settlements for Monday, January 15th due to the Martin Luther King, Jr. holiday.  The settlements listed are for Friday, January 12th.  Fundamental News: Russia’s Foreign Minister, Sergei Lavrov, said Russia will not support attempts by the US t ... Read More
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Oil prices closed at their highest level in over 3 years

January 15, 2018
Recap: Oil prices closed at their highest level in over 3 years, gaining support from geopolitical tensions, increasing demand and declining U.S. stockpiles.  A break below $63.50 in February WTI triggered additional selling, taking this spot contract to just above $63.00. News o ... Read More
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