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Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies.
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Market Insights
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Concerns About Immediate Global Oil Demand Intensified
January 5, 2023
Recap: Oil prices crashed early on Wednesday, with Brent crude falling below the $80 a barrel mark again, as concerns about immediate global oil demand intensified with soaring COVID cases in China and slowing economies globally. On Wednesday, oil prices continued the Tuesday rou ...
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The Market Sold Off Sharply on Tuesday
January 4, 2023
Recap : The oil market sold off sharply on Tuesday following the long New Year’s holiday weekend. The market was pressured by weak demand data from China and a gloomy economic outlook. China’s government raised its export quotas for refined oil products in the first batch for 202 ...
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WTI Finished the Year Above $80 a Barrel
January 3, 2023
Recap: WTI finished the year above $80 a barrel, with the February contract climbing $1.86, or 2.37%, to close the session at $80.26 a barrel. This represents a gain of $5.05 per barrel, or 6.71% to $80.26 this year. Brent tacked on $8.13, or 10.45% this year, gaining $2.45, or 2 ...
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Oil Futures Fell Despite a Weak Dollar and Strong Equities
December 30, 2022
Recap : Oil prices fell for a second straight session on Thursday on an uncertain demand outlook as more countries considered restrictions on Chinese travelers with COVID-19 infections spreading in the top oil-importing nation. Oil futures fell despite a weak dollar and strong e ...
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Oil Futures Ended Lower on Wednesday
December 29, 2022
Recap: Oil futures ended lower on Wednesday, with optimism over the demand outlook stemming from China’s continued relaxation of COVID-19 curbs offset by a surge in cases of the disease. A somewhat firmer dollar also lent pressure to this market. Earlier this month, China moved ...
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Severe Weather in the U.S. Cut Into Output Amid Some Outages
December 28, 2022
Recap: Oil futures pulled back from early gains in a thinly traded market, as investors have been trying unsuccessfully for a month to gauge exactly when the Chinese economy may emerge from COVID restrictions. Oil prices had gained earlier in the session as severe weather in the ...
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Several of the Largest U.S. Refineries Were Shut on Friday
December 27, 2022
Fundamental News: TC Energy Corp said it will start returning to service its Keystone Pipeline’s idled segment to Cushing, Oklahoma in the next several days after a U.S. regulator approved its restart plan. It said “our onsite activities will continue despite adverse weather, al ...
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Oil futures fell on Thursday in a volatile trading session
December 23, 2022
Recap: Oil futures fell on Thursday in a volatile trading session as the impact of tighter U.S. crude oil supplies due to a winter storm in the U.S. was outweighed by fears that Federal Reserve interest rate hikes and China’s rising COVID cases would crimp demand. February WTI fe ...
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Oil prices rose by more than $2 a barrel on Wednesday
December 22, 2022
Recap: Oil prices rose by more than $2 a barrel on Wednesday after data showed a larger-than-expected draw in U.S. crude stockpiles, but gains were capped by a snowstorm that is expected to hit U.S. travel. Prices were also boosted by hopes that China would relax some COVID-19 cu ...
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US benchmark crude-oil contract for February delivery finishes 1.1% higher
December 21, 2022
Recap: The most-active US benchmark crude-oil contract for February delivery finishes 1.1% higher at $76.23 a barrel, helped by a weaker dollar that made overseas purchases of dollar-denominated crude more attractive to foreign buyers. China’s cloudy demand outlook limited gains ...
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