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 prices fell to their lowest in four years

March 18, 2020
Recap: Recession fears pressured oil prices on Thursday, pushing them to their lowest level in four years, as the coronavirus pandemic slowed economic growth and oil demand while Saudi Arabia and Russia kept up their battle for market share. After gaining more than 5% in overnigh ... Read More
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Oil prices picked up tailwinds on Monday

March 17, 2020
Recap: Oil prices picked up tailwinds on Monday, following equities lower after an emergency Federal Reserve interest rate cut did little to quell the panic among investors caused by the rapidly spreading coronavirus. Adding additional pressure is the fact that Saudi Arabia and R ... Read More
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Oil prices posted biggest weekly drop since 2008 after coronavirus outbreak has hit world economy

March 16, 2020
Recap: Oil prices posted their biggest weekly drop since the 2008 global financial crisis after the coronavirus outbreak rocked the world economy while top exporter Saudi Arabia and its allies stepped up plans to flood the market with record levels of supply. Dropping demand and ... Read More
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Both WTI and Brent suffered a loss of more than 7%

March 13, 2020
Recap: Oil futures finished sharply lower Thursday, with both WTI and Brent suffering a loss of more than 7%, after President Donald Trump imposed restrictions on travel from Europe to the U.S. in an effort to contain the coronavirus pandemic, feeding concerns over the global eco ... Read More
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Oil futures ended lower on Wednesday

March 12, 2020
Recap: Oil futures ended lower on Wednesday, pressured by U.S. government data reporting domestic crude supplies rose for a seventh week in a row, and by Saudi Arabia’s move to increase output capacity, as it intensifies a price war with Russia that sent crude prices tumbling to ... Read More
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Oil prices jumped by more than 7% on Tuesday

March 11, 2020
Recap: Oil prices jumped by more than 7% on Tuesday, recovering from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying, and Russia signaled that it may yet hold talks with OPEC about cooperation on output cuts. The reboun ... Read More
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Oil futures plunged to a four-year low Monday

March 10, 2020
Recap: Oil futures plunged to a four-year low Monday, suffering their biggest one-day drop since the Gulf War in 1991 as OPEC and Russia appear headed for an all-out price war — shaking a market already reeling from the demand shock created by global spread of COVID-19. After gap ... Read More
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Oil prices fell more than 8% on Friday

March 9, 2020
Recap: Oil prices fell more than 8% on Friday, to their lowest level in 3 years, on reports that Russia refused to support OPEC’s plan to further reduce output. Russia has so far refused to support the move, arguing it was too early to predict the impact of the coronavirus outbre ... Read More
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Saudi Arabia and other OPEC producers were seeking to persuade Russia to join them in an additional oil output cut

March 5, 2020
Recap: The oil market posted an inside trading day on Wednesday after failing to breach Tuesday’s trading range.  The market traded higher early in the session as Saudi Arabia and other OPEC producers were seeking to persuade Russia to join them in an additional oil output cut.  ... Read More
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Oil futures bounced on Tuesday

March 4, 2020
Recap: Oil futures bounced on Tuesday, marking the second straight day of gains after the U.S. Federal Reserve cut interest rates and as traders await the March 5-6 OPEC meeting, where the cartel and its allies are expected  to agree on additional production cuts. April WTI jumpe ... Read More
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