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.

A Key Pipeline Supplying the United States Closed

December 13, 2022
Recap:  Oil prices gained about $2 a barrel on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China's loosening COVID-19 restrictions bolstered the fuel demand outlook. Traders also worried about how l ... Read More
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Oil Prices Spent the Week Struggling on the Upside

December 12, 2022
Recap:  Oil prices spent the week struggling on the upside despite multiple bullish catalysts. The unpredictability of this market has left traders scratching their heads and leery of taking on too much risk. Even with an ample supply of supportive fundamentals, such as the easin ... Read More
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Oil Futures Fell to Their Lowest Level in a Year on Thursday

December 9, 2022
Recap:  Oil futures fell to their lowest level in a year on Thursday, as the bearish sentiment continued. Brent fell for the sixth straight session, while WTI marked its fifth straight day of downside movement. Losses were limited by an oil leak that lead to a shutdown of the Key ... Read More
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U.S. Government Data Showed an Unexpectedly Large Build in Fuel Stocks

December 8, 2022
Recap: Oil edged to its lowest since the start of the year in volatile trading, after U.S. government data showed an unexpectedly large build in fuel stocks, feeding fears about demand in a market already spooked by an uncertain economy. WTI for January delivery lost $2.24 per ba ... Read More
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Fears of Declining Demand Stemming from a Global Economic Slowdown

December 7, 2022
Recap:  Oil prices fell amid fears of declining demand stemming from a global economic slowdown. The WTI benchmark fell as much as $3.53, or 4.5% a barrel to a low of $73.41, while Brent dipped as much as $3.98, or 4.8% to a low of $78.70. Markets will be closely monitoring macro ... Read More
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A Price Cap of $60 a Barrel Took Effect on Monday

December 6, 2022
Recap: Oil futures turned lower on Monday, adding to last week's gain, after a European Union ban on importing Russian seaborne crude and a price cap of $60 a barrel took effect Monday, while OPEC kept its production quotas unchanged at a Sunday meeting. The West imposed sanction ... Read More
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Crude Oil Prices Fell Friday After the European Union Reached a Deal

December 5, 2022
Recap: Crude oil prices fell Friday after the European Union reached a deal to cap Russian oil at $60 a barrel. The price cap, which will ban Western companies from insuring, financing or shipping Russian oil, is intended to keep Russian crude flowing into the global market with ... Read More
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Oil Futures Rose on Thursday after China Eased COVID Restrictions in Two Major Cities

December 2, 2022
Recap: Oil futures rose on Thursday after China eased COVID restrictions in two major cities, while the U.S. dollar slumped on the view that the Federal Reserve might slow down on interest rate hikes. The shift in China's zero-COVID strategy raised optimism about a recovery in oi ... Read More
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Oil Prices Rose as Much as $3 on Wednesday Amid Optimism

December 1, 2022
Recap: Oil prices rose as much as $3 on Wednesday amid optimism that China will ease lockdown restrictions, bolstering the economy and demand for fuel, while supplies dropped in the U.S. and a weaker dollar made crude cheaper for foreign buyers. Brent crude, the international sta ... Read More
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Oil Futures Firmed on Tuesday

November 30, 2022
Recap:  Oil futures firmed on Tuesday, as traders hoped the loosening of China’s strict COVID-19 restrictions would lead to an increase in demand. The potential for new output cuts from the Organization of the Petroleum Exporting Countries and their allies, together known as OPEC ... Read More
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