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 settled higher on signs of progress on another US stimulus package

December 18, 2020
Recap: Oil futures settled higher for the fourth straight session, as signs of progress have been seen in U.S. lawmakers reaching a second round of economic relief. Oil prices jumped to fresh nine month highs, as vaccine rollouts continued, and as Asian demand remains hearty. A s ... Read More
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Crude oil market traded higher after the EIA reported a decline in U.S. crude oil stocks

December 17, 2020
Recap: The crude oil market traded higher, in lock step with equities, after the EIA reported a decline in U.S. crude oil stocks, as more COVID-19 vaccines were announced, and on increasing hope that an agreement for an economic stimulus package out of Washington. However, recent ... Read More
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Oil futures rose to a more than nine month high

December 16, 2020
Recap: Oil futures rose to a more than nine month high, boosted by trader confidence, as the rollout of the COVID-19 vaccine began its second day in the U.S. and on hopes that lawmakers in Washington would reach an agreement on a second economic stimulus relief package. Signs of ... Read More
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OPEC stated in a monthly report that global oil demand will rebound more slowly in 2021

December 15, 2020
Recap: After a choppy trading session, oil futures ended higher on Monday. The trading session opened with prices trading slightly to the upside, as the rollout of the COVID-19 vaccine got underway in the U.S., raising hopes that the economy would improve, taking demand along wit ... Read More
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Baker Hughes reported that U.S. energy firms added the most oil and natural gas rigs in a week since January

December 14, 2020
Recap: Oil futures ended lower on Friday, but gained for the fifth straight week, as traders remain hopeful over the progress on the vaccines for the COVID-19 virus. Signs of strong demand out of Asia and other areas also gave strength to the market. Underlying fundamentals are m ... Read More
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WTI traded above $47 a barrel and Brent broke above $50 a barrel on Tuesday

December 11, 2020
Recap: After failing to find downside momentum off of yesterday’s EIA report, oil futures quickly rebounded, with WTI trading above $47 a barrel and Brent breaking above $50 a barrel on Tuesday. This is a significant development in the oil markets, as traders shook off yesterday’ ... Read More
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There was a 15 million barrel increase in U.S. crude oil inventories

December 10, 2020
Recap: Oil futures posted modest losses on Wednesday despite the more than 15 million barrel increase in U.S. crude oil inventories. The modest reaction to the huge stockpile build has been attributed to the sharp rise in crude oil imports, which increased by 2.7 million barrels ... Read More
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U.S. inventory numbers are expected to show a decline in crude oil stockpiles and a build in refined products

December 9, 2020
Recap: Oil futures mostly lower on Tuesday, as the number of rising COVID-19 cases overshadowed optimism tied to a number of vaccines, which are already being administered in the UK. Despite the recent rise in oil prices, the spread of the virus has led to renewed lockdowns, caus ... Read More
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Oil futures pulled back from a nine month high on Monday

December 8, 2020
Recap: Oil futures pulled back from a nine month high on Monday, as the number of coronavirus cases continue to surge and as tensions between China and the U.S. intensifies. Demand for oil remains well below seasonal norms, as COVID-19 continues to force lockdowns across the glob ... Read More
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All three major petroleum futures contracts on NYMEX finished the trading session higher Friday

December 7, 2020
Recap: Not only did all three major petroleum futures contracts on NYMEX finish the trading session higher Friday, they also posted their fifth consecutive weekly gain. Despite the current surging hospitalization and death rate due to Covid in the United States, oil traders seeme ... Read More
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