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.

Economic Concerns and Signs of Increased Supplies Despite the Prospects of the U.S. Soon Refilling its SPR

May 15, 2023
Recap:  The oil market continued on its downward trend on Friday, trading back below the $70.00 level amid economic concerns and signs of increased supplies despite the prospects of the U.S. soon refilling its SPR. The market remained pressured overnight and breached its previous ... Read More
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On Thursday, the Market Continued to Retrace its Previous Losses

May 12, 2023
Recap:  On Thursday, the oil market continued to retrace its previous losses as increasing jobless claims and a stronger dollar weighed on sentiment. The market traded sideways in overnight trading and ahead of the release of the weekly unemployment report. However, the market br ... Read More
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The Oil Market Traded Mostly Sideways in Overnight Trading but Sold Off and Traded to its Lows

May 11, 2023
Recap:  The oil market traded mostly sideways in overnight trading but sold off and traded to its lows in afternoon trading, ending a three day rally amid an unexpected build in crude stocks. Early in the session, the market breached its previous high and posted a high of $73.89 ... Read More
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The Oil Market Looked Ready to Post an Inside Trading Day Before the Market Rallied to its Highs Ahead of the Close

May 10, 2023
Recap:  The oil market looked ready to post an inside trading day before the market rallied to its highs ahead of the close. The market had traded to $73.08 in overnight trading before it sold off to a low of $71.34 by mid-day as traders took some profits following its recent reb ... Read More
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Some Traders Saw the Recent Fall in Prices Due to Demand Concerns as Overdone

May 9, 2023
Recap:  The oil market on Monday rallied higher as recession fears eased and as some traders saw the recent fall in prices due to demand concerns as overdone. The market posted a low of $71.04 in overnight trading before it bounced off that level and continued to retrace its prev ... Read More
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The Oil Market on Friday Retraced More of its Previous Gains Following Thursday's Early Sell Off

May 8, 2023
Recap:  The oil market on Friday retraced more of its previous gains following Thursday’s early sell off at the opening. The crude market opened 14 cents higher at $68.70 and posted a low of $68.48 in overnight trading before it bounced higher. The market traded higher as the equ ... Read More
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The Oil Market on Thursday Traded Higher After Reversing its Previous Losses

May 5, 2023
Recap:  The oil market on Thursday traded higher after reversing its previous losses in what appeared to be a technical rebound. On the opening, the market sold off sharply by almost $5 to a low of $63.64, the lowest level seen since December 2021. The mini-flash crash may have b ... Read More
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Traders Remained Concerned About the Economy as the Fed Raised Interest Rates

May 4, 2023
Recap:  On Wednesday, the oil market extended its sharp losses seen on Tuesday, as traders remained concerned about the economy as the Fed raised interest rates. In overnight trading, the crude market traded sideways and posted a high of $71.79. However, the market began its sell ... Read More
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The Oil Market Sold Off Sharply on Tuesday on Concerns Over the Economy

May 3, 2023
Recap:  The oil market sold off sharply on Tuesday on concerns over the economy amid discussions on ways to avoid a debt default and ahead of the Fed’s expected U.S. rate hike on Wednesday. The oil complex and the stocks indexes fell as the cost of insuring against a U.S. debt de ... Read More
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Traders Weighed the Impact of the Federal Reserve Potentially Raising Interest Rates

May 2, 2023
Recap:  The oil market posted an inside trading day on Monday as traders weighed the impact of the Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data against the OPEC+ supply cuts taking effect this month. The market opened 12 cents lower and ... Read More
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