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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
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Fitch Downgraded the U.S. Government's Top Credit Rating to AA+ from AAA
August 3, 2023
Recap: The oil market posted an outside trading day and sold off sharply after Fitch downgraded the U.S. government’s top credit rating to AA+ from AAA. The market breached its previous high as it rallied to a high of $82.43 in overnight trading. However, the market erased its p ...
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The Market's Gains Were Limited Amid the Strength in the Dollar
August 2, 2023
Recap: On Tuesday, the oil market posted an inside trading day as traders took profits after it continued to trend higher in its upward trending channel on Monday. The market’s gains were also limited amid the strength in the dollar. It sold off to a low of $80.59 by mid-morning ...
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The Oil Markets Finished Higher on Monday Marking the Third Straight Trading Session of Price Gains
August 1, 2023
Recap: The oil markets finished higher on Monday marking the third straight trading session of price gains. The September Brent, which expired today, finished the trading session up 0.7% at $85.56 a barrel while the September WTI contract finished up $1.22 per barrel or 1.5% at $ ...
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The Oil Market Rallied Higher Ahead of the Close and Settled Higher for the Fifth Consecutive Week
July 31, 2023
Recap: On Friday, the oil market rallied higher ahead of the close and settled higher for the fifth consecutive week. The market retraced some of its previous gains but held support at its previous low of $78.87. It traded to a low of $79.07 but quickly bounced off that level an ...
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The Market Continued to Trend Higher Remaining Supported by Supply Tightness and Optimism for Global Growth
July 28, 2023
Recap: The oil market continued its upward trend on Thursday, breaching the $80.00 level and peaking at a level not seen since April 19th after it posted an inside trading day on Wednesday. The market quickly posted a low of $78.87 on the opening before it continued to trend hig ...
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A Mostly Bearish Oil Inventory Report and the Expected 25 Basis Point Interest Rate Increase Announced by the Federal Reserve
July 27, 2023
Recap: The crude oil market retraced some of its previous gains on Wednesday and posted an inside trading day following a mostly neutral to bearish oil inventory report and the expected 25 basis point interest rate increase announced by the Federal Reserve in the afternoon. The ...
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Heating Oil
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The Oil Market Continued to Rally a Three-Month High on Tuesday
July 26, 2023
Recap: The oil market continued to rally a three-month high on Tuesday after the market was steady early in the session. The market traded higher ahead of the release of the weekly petroleum stocks reports, which are expected to show draws across the board in crude and product s ...
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Saudi Oil Output Cuts Impacting the Market and the Expectations that Further Stimulus in China Will Continue to Support Prices
July 25, 2023
Recap: The oil market continued to trend higher on Monday as it remained well supported by Saudi oil output cuts impacting the market and the expectations that further stimulus in China will continue to support prices. On Monday, China’s state planner announced measures to prompt ...
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The Oil Market Continued to Retrace Some of its Previous Losses and Rallied to its Fourth Weekly Gain
July 24, 2023
Recap: On Friday, the oil market continued to retrace some of its previous losses and rallied to its fourth weekly gain. The market was supported amid tightening supplies and economic stimulus in China. Analysts believe the tightness in supply is showing up in inventories, with t ...
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The oil market on Thursday traded in and out of positive territory
July 21, 2023
Recap: The oil market on Thursday traded in and out of positive territory, ahead of its expiration at the close. The market traded mostly sideways and posted a high of $76.15 after Ukraine said it would consider any ship heading for Russian Black Sea ports as a potential target. ...
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