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.

WTI settled at its lowest level in almost a month

September 3, 2020
Recap: Oil prices fell on Wednesday, with WTI settling at its lowest level in almost a month, as the dollar weakened and concern over gasoline demand overshadowed the 9.4 million barrel drop in U.S. crude oil inventories. The drop in crude oil inventories was due to a record fall ... Read More
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Oil futures posted modest gains on Tuesday

September 2, 2020
Recap: Oil futures posted modest gains on Tuesday, with WTI settling higher for the fourth straight session, as some economic data show signs of recovery. Bullish manufacturing data out of China aided in reinforcing the view that East Asia continues to move closer to pre-COVID de ... Read More
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Signs of a slight increase in demand contributed to the fourth straight month of gains

September 1, 2020
Recap: Oil futures traded back in forth in a narrow range on Monday, with a mixed settlement. However, signs of a slight increase in demand contributed to the fourth straight month of gains. A stronger than expected increase in China’s service sector pulled prices off the lows of ... Read More
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The U.S. Bureau of Safety and Environment Enforcement said energy companies shut 84% of Gulf of Mexico crude oil output due to Hurricane Laura.

August 31, 2020
Recap: Oil futures posted modest losses on Friday, but gained on the week. Prices discounted the storm related premium as Hurricane Laura made landfall, leaving behind little damage to the oil industry. Weakness in the dollar couldn’t even provide support for this market, which h ... Read More
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Oil prices fell on Thursday stemming three straight sessions of gains

August 28, 2020
Recap: Oil prices fell on Thursday, stemming three straight sessions of gains, as traders anticipated a quick recovery for the energy market in the Gulf of Mexico after one of the strongest hurricanes in years made landfall near the heart of the U.S. refining industry. Production ... Read More
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The EIA revealed a fifth straight week of declines in U.S. crude oil inventories

August 27, 2020
Recap: Oil futures were mixed on Wednesday, holding on to five month highs as Hurricane Laura forced the shutdown of crude oil output in the Gulf of Mexico and data released by the EIA revealed a fifth straight week of declines in U.S. crude oil inventories. Concern over the coro ... Read More
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Oil prices logged their highest finish since early March

August 26, 2020
Recap: Oil prices logged their highest finish since early March, as the energy sector in the Gulf of Mexico prepared for Hurricane Laura, which is expected to reach the area later this week. Oil producers on Tuesday had evacuated 310 offshore facilities and shut 1.56 million barr ... Read More
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Oil futures rose Monday as a pair of tropical storms closed in on the Gulf of Mexico

August 25, 2020
Recap: Oil futures rose Monday as a pair of tropical storms, which are expected to make landfall within-days of each other, closed in on the Gulf of Mexico, forcing the shutdown of offshore drilling rigs responsible for more than half of the region’s crude production. Despite thi ... Read More
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Baker Hughes reported that the number of U.S. oil rigs rose by 11 to 183

August 24, 2020
Recap: Oil futures traded lower on Friday pressured by enduring concern over the coronavirus and its impact on demand, strength in the dollar and weak economic data out of the Eurozone and Japan added to the pressure.  Prices remained under pressure after Baker Hughes reported th ... Read More
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Oil futures pulled back Thursday on lingering concerns regarding demand

August 21, 2020
Recap: Oil futures pulled back Thursday, on lingering concerns regarding demand and as weekly unemployment claims rose in the U.S. The lower move also follows Wednesday’s release of the Fed’s July 28-29 meeting, in which staff economists told policy makers they were lowering thei ... Read More
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