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.

Oil futures posted early gains on Monday

March 9, 2021
Recap: Oil futures posted early gains on Monday after reports of an attack on Saudi Arabian oil facilities, but the gains were erased as it became apparent no real damage occurred. Yemen's Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, i ... Read More
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Oil futures jumped to their highest settlement since 2019

March 8, 2021
Recap: Oil futures jumped to their highest settlement since 2019 on Friday following a stronger-than-expected U.S. jobs report, and extended Thursday’s gains on the decision by OPEC and its allies to keep production cuts in place through April. For the first time since October of ... Read More
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OPEC and its allies voted to rollover current production cuts to the end of April

March 5, 2021
Recap: Oil futures climbed higher on Thursday after OPEC and its allies voted to rollover current production cuts to the end of April. Saudi Arabia also extended its voluntary output cut of one million barrels a day, which was due to expire at the end of March. News of the rollov ... Read More
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Oil futures rose by almost 3% on Wednesday

March 4, 2021
Recap: Oil futures rose by almost 3% on Wednesday on talk of a potential roll over of production cuts by OPEC and its allies. Traders were hopeful that the group would decide to roll over production cuts in an effort to support prices, even after the EIA showed a whopping 21.6 mi ... Read More
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Traders were focused on rising tensions between the U.S. and Saudi Arabia.

March 3, 2021
Recap: Oil futures extended their losses on Tuesday ahead of the meeting between OPEC and its allies, where they will decide whether or not to boost production levels. Traders were also focused on rising tensions between the U.S. and Saudi Arabia. WTI settled below $60 for the fi ... Read More
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OPEC and other major producers are set to meet on March 3 and 4 to discuss production curbs

March 2, 2021
Recap: Oil futures traded higher in a mostly sideways pattern in overnight trading, but in a sign of exhaustion, fell below unchanged. Optimism over COVID-19 vaccines pushed April WTI to just below $63 a barrel, while May Brent reached toward $66 a barrel. A rise in the U.S. doll ... Read More
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OPEC+ is expected to increase quotas by 500,000 barrels per day

March 1, 2021
Recap: A rise in the U.S. dollar combined with increasing concern over next week’s meeting between OPEC and other major producers, pushed oil futures lower on Friday. OPEC+ is expected to increase quotas by 500,000 barrels per day. The group is faced with two decisions when it me ... Read More
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U.S. crude oil inventories have fallen 40 million barrels over the last three weeks

February 26, 2021
Recap: Just one day after hitting their highest close in more than a year, WTI extended its gains, with April WTI reaching toward $64 a barrel, as U.S. crude oil inventories have fallen 40 million barrels over the last three weeks, with cold weather demand for heating fuels offse ... Read More
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The EIA reported a more than 1 million barrel per day decline in U.S. crude oil production

February 25, 2021
Recap: Oil futures marked a 13-month high on Wednesday, after the EIA reported a more than 1 million barrel per day decline in U.S. crude oil production during the deep freeze that stretched across Texas and whopping 5 million barrel drop in U.S. distillate stocks for the week en ... Read More
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Oil futures finished mixed on Tuesday

February 24, 2021
Recap: After a choppy trading session, oil futures finished mixed on Tuesday, with WTI losing a few cents, and Brent squeezing out a fresh 13-month high. WTI traded higher in post settlement trading but remained below its multi month high made earlier in the session. Oil prices f ... Read More
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