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.

The Market Weighed Concerns Over a Possible Recession

January 19, 2023
Recap: The oil market ended the session lower on Wednesday as the market weighed concerns over a possible recession against expectations that the lifting of China’s COVID-19 restrictions will lead to a fuel demand recovery. Early in the session, the market was well supported by t ... Read More
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The Market Continued on its Upward Trend on Tuesday

January 18, 2023
Recap: The oil market continued on its upward trend on Tuesday following Monday’s shortened trading session due to the Martin Luther King, Jr. holiday. The market was supported as easing COVID restrictions in China raised hopes of a demand recovery in the world's top crude import ... Read More
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European Union Prepares to Stop Fuel Imports from Russia

January 17, 2023
Recap: There are no settlements due to the Martin Luther King, Jr. holiday. Fundamental News:  IIR Energy reported that U.S. oil refiners are expected to shut in about 1,213,000 bpd of capacity in the week ending January 20th, cutting available refining capacity by 383,000 bpd ... Read More
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The U.S. Dollar Fell to a Nine-Month Low

January 16, 2023
Recap:  The oil market continued on its upward trend as the U.S. dollar fell to a nine-month low a day after data showed that inflation fell for the first time in 2-½ years and indications of increasing demand in China. Recent crude purchases from China and an increase in road tr ... Read More
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The Oil Market Continued on its Upward Trend on Thursday

January 13, 2023
Recap:  The oil market continued on its upward trend on Thursday in follow through strength seen on Wednesday amid concerns over the impact of sanctions on Russian crude output. The market was further supported by expectation of increasing demand in China that could give a boost ... Read More
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The Oil Market Rallied Higher

January 12, 2023
Recap:  The oil market rallied higher as concerns over the impact of sanctions on Russian crude output outweighed a large unexpected build in crude stocks. The market was supported by reports indicating that G7 countries could soon target Russian refined products with sanctions i ... Read More
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The Market Awaits the Release of the Weekly Petroleum Stock Reports

January 11, 2023
Recap: The oil market posted an inside trading day as the market awaits the release of the weekly petroleum stock reports. The oil market continued to move lower in overnight trading in follow through trading seen on Monday afternoon. The market posted a low of $73.84 before it b ... Read More
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The Largest Weekly Decline at the Start of a Year Since 2016

January 10, 2023
Recap:  The oil market rallied higher on Monday after falling more than 8% last week, the largest weekly decline at the start of a year since 2016. The oil market was well supported by news that China opened its borders over the weekend for the first time in three years. Domestic ... Read More
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The Oil Market Retraced its Previous Losses

January 9, 2023
Recap:  The oil market retraced its previous losses and rallied by over $1 early in the session amid a weaker dollar. The dollar pared its earlier gains following the release of the U.S. Labor Department’s nonfarm payroll data. The report showed that employers added 223,000 jobs ... Read More
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The U.S. Energy Information Administration Reported an Increase of 1.7 Millions Barrels

January 6, 2023
Recap:  Oil futures rose on Thursday after the U.S. Energy Information Administration reported an increase of 1.7 million barrels for the week to December 30. This puts U.S. crude oil inventories at 420.6 million barrels, 4 percent below the seasonal five-year average. Oil prices ... Read More
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