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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 Oil Market Posted an Inside Trading Day Amid the Uncertainty of an OPEC+ Supply Cut

May 30, 2023
Recap:  The oil market posted an inside trading day amid the uncertainty of an OPEC+ supply cut at its meeting this week and the ongoing debt ceiling negotiations. The market posted a low of $71.49 in overnight trading but bounced off that level and traded to a high of $73.05 by ... Read More
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The Oil Market on Thursday Retraced Nearly all of its Gains Earlier This Week

May 26, 2023
Recap:  The oil market on Thursday retraced nearly all of its gains seen earlier this week as Russia downplayed the prospect of further OPEC+ production cuts at its meeting next week. The market traded mostly sideways and posted a high of $74.37 in overnight trading. However, the ... Read More
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The Oil Market on Wednesday Continued to Trend Higher Following a Large Unexpected Draw in Crude Oil Stocks

May 25, 2023
Recap:  The oil market on Wednesday continued to trend higher following a large unexpected draw in crude oil stocks and a warning from the Saudi Energy Minister on Tuesday that raised the prospect of further OPEC+ production cuts. The market traded higher overnight following the ... Read More
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The Market Awaited News on Further Debt Ceiling Negotiations

May 24, 2023
Recap:   The oil market continued to trade within its two-week trading range as the market awaited for news on further debt ceiling negotiations. The market traded towards the upper end of the range on optimism that the U.S. would avoid a debt default and a warning from Saudi Ara ... Read More
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The market rebounded as traders awaited the resumption of U.S. debt ceiling talks

May 23, 2023
Recap: The oil market on Monday traded higher after the market rebounded as traders awaited the resumption of U.S. debt ceiling talks. The market breached its previous low of $70.63 and traded to a low of $70.55 in overnight trading before it bounced off that level and rallied hi ... Read More
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The Oil Market on Friday Posted an Outside Trading Day Following Thursday's Inside Trading Session

May 22, 2023
Recap:  The oil market on Friday posted an outside trading day following Thursday’s inside trading session. The market traded mostly sideways overnight before it breached its previous highs and posted a high of $73.40 by mid-morning amid the market’s cautious optimism over the fa ... Read More
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The Market Awaits the Outcome of the Debt Ceiling Negotiations

May 19, 2023
Recap:  The oil market on Thursday posted an inside trading day as the market awaits the outcome of the debt ceiling negotiations. Early in the session, the market posted a high of $72.87 before it found some selling pressure amid the strength the dollar and increasing expectatio ... Read More
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Optimism Over the Debt Ceiling Negotiations Outweighed a Build in Crude Stocks

May 18, 2023
Recap:  The oil market posted an outside trading day as the market bounced off its lows and rallied over $2 as optimism over the debt ceiling negotiations outweighed a build in crude stocks. The oil market continued to trend lower in overnight trading and posted a low of $70.04 f ... Read More
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The Market Weighed the Weaker Than Expected Economic Data

May 17, 2023
Recap:  The oil market traded mostly sideways on Tuesday as it posted the day’s trading range by mid-day. The market weighed the weaker than expected economic data from China and the U.S. against a forecast of higher global demand from the IEA. The market was pressured early in t ... Read More
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The Oil Market Rallied Higher on Monday on Concerns About Lower Supplies in Canada and Elsewhere

May 16, 2023
Recap:  The oil market rallied higher on Monday on concerns about lower supplies in Canada and elsewhere. The market continued to trend lower and posted a low of $69.41 in overnight trading before it bounced off its low and retraced its earlier losses. The market was well support ... Read More
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