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 on concern that the spread of a virus from China could lower fuel demand

January 24, 2020
Recap: Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories. March WTI fell as much as $1.97 or 3.4% to a low of $54.77, the lowest lev ... Read More
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Oil prices slipped as much as 3%

January 23, 2020
Recap: Oil prices slipped as much as 3% as the International Energy Agency forecasted a surplus in supplies and as demand worries overshadowed concern over disruptions to Libya’s crude output. Adding pressure to the market is the spreading of the coronavirus, which originated in ... Read More
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Investors worry about rising global supplies and a potential slowdown in global economic growth

January 22, 2020
Recap: Crude oil prices finished lower on Tuesday as investor worries about rising global supplies and a potential slowdown in global economic growth overshadowed a supply disruption in the Middle East due to unrest in Libya and Iraq. Crude oil futures experienced a brief stint t ... Read More
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The next meeting between representatives of the OPEC+ group of oil producers will take place in March

January 21, 2020
Fundamental News: OPEC’s Secretary General, Mohammad Barkindo, said the next meeting between representatives of the OPEC+ group of oil producers will take place in March.  He said none of the participants had asked for the time of the meeting to be changed. Oil supply disrupti ... Read More
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Baker Hughes reported that US energy firms added oil rigs for the first time in four weeks

January 20, 2020
Recap: Oil futures ended with a modest gain on Friday, but registered a loss for a second week in a row as traders continued to weigh the prospects for energy demand in the wake of the China-U.S. trade deal and Senate approval of the U.S.-Mexico-Canada trade pact this week. The r ... Read More
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Prices gathered strength after the U.S. and China signed the first phase of their trade deal

January 17, 2020
Recap: Oil prices bounced back on Thursday, after settling at their lowest level since December. Prices gathered strength after the U.S. and China signed the first phase of their trade deal and after the U.S. Senate approved the U.S.-Mexico-Canada Agreement. In essence, oil price ... Read More
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The EIA reported hefty builds in U.S. gasoline and distillate inventories

January 16, 2020
Recap: Oil prices fell to their lowest level in 6 weeks after the EIA reported hefty builds in U.S. gasoline and distillate inventories, though crude oil inventories unexpectedly decreased. February WTI lost 42 cents, or 0.7%, to settle at $57.81 a barrel. The settlement was the ... Read More
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Oil prices climbed on Tuesday after five days of declines

January 15, 2020
Recap: Oil prices climbed on Tuesday after five days of declines as the United States and China prepared to sign a preliminary trade deal and as Middle East tensions eased. Additionally, oil also found technical support after WTI fell to a more than five-week low of $57.72 before ... Read More
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Oil futures fell for a fifth session in a row on Monday

January 14, 2020
Recap: Oil futures fell for a fifth session in a row on Monday, with the U.S. benchmark logging its lowest finish in almost six weeks as the immediate risk of a bigger U.S.-Iran conflict continued to fade, easing worries about potential global supply disruptions. Traders turned t ... Read More
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Drillers cut 11 oil rigs in the week ending January 10th bringing the total count down to 659

January 13, 2020
Recap: The oil market posted an inside trading day on Friday after failing to breach Thursday’s trading range.  The market opened slightly higher and traded to a high of $59.78 early in the morning.  However, the oil market continued to erase its gains and posted a low of $58.85 ... Read More
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