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 rose on Monday

December 20, 2022
Recap: Oil prices rose on Monday, as optimism around China relaxing its COVID-19 restrictions outweighed fears of a global recession that would weigh on energy demand. Spreading Covid-19 in China is creating worries about demand for commodities like oil, but the announcement of t ... Read More
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Oil futures fell over 3% in overnight trading on Friday

December 19, 2022
Recap: Oil futures fell over 3% in overnight trading on Friday, erasing gains made earlier in the week. Prices were pressured after rate increases by major central banks and their accompanying messages stoked fears of a global downturn. Inventory builds across the board in the Un ... Read More
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Concern About the Outlook for Fuel Demand Increased

December 16, 2022
Recap:  Oil futures fell on Thursday, as concern about the outlook for fuel demand increased, and as the U.S. dollar strengthened amid further interest rate hikes by global central banks, spreading worry among traders. Thursday’s drop in oil prices stemmed three straight days of ... Read More
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Oil Futures Rose to Their Highest Level in Just Over a Week

December 15, 2022
Recap : Despite a whopping 10.2 million barrel increase in U.S. crude oil inventories, oil futures rose to their highest level in just over a week, supported by the International Energy Agency’s forecasts for stronger demand growth this year and next. The large build in crude sto ... Read More
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Pipeline to the U.S. Remained Shut Amid What Potentially Could Be One of the Coldest Cold Snaps

December 14, 2022
Recap:  Oil futures rose on Tuesday, as an important pipeline to the U.S. remained shut amid what potentially could be one of the coldest of cold snaps in decades. This, along with Russia suggesting it might cut production and a cooler than expected U.S. inflation reading pressur ... Read More
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A Key Pipeline Supplying the United States Closed

December 13, 2022
Recap:  Oil prices gained about $2 a barrel on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China's loosening COVID-19 restrictions bolstered the fuel demand outlook. Traders also worried about how l ... Read More
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Oil Prices Spent the Week Struggling on the Upside

December 12, 2022
Recap:  Oil prices spent the week struggling on the upside despite multiple bullish catalysts. The unpredictability of this market has left traders scratching their heads and leery of taking on too much risk. Even with an ample supply of supportive fundamentals, such as the easin ... Read More
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Oil Futures Fell to Their Lowest Level in a Year on Thursday

December 9, 2022
Recap:  Oil futures fell to their lowest level in a year on Thursday, as the bearish sentiment continued. Brent fell for the sixth straight session, while WTI marked its fifth straight day of downside movement. Losses were limited by an oil leak that lead to a shutdown of the Key ... Read More
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U.S. Government Data Showed an Unexpectedly Large Build in Fuel Stocks

December 8, 2022
Recap: Oil edged to its lowest since the start of the year in volatile trading, after U.S. government data showed an unexpectedly large build in fuel stocks, feeding fears about demand in a market already spooked by an uncertain economy. WTI for January delivery lost $2.24 per ba ... Read More
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Fears of Declining Demand Stemming from a Global Economic Slowdown

December 7, 2022
Recap:  Oil prices fell amid fears of declining demand stemming from a global economic slowdown. The WTI benchmark fell as much as $3.53, or 4.5% a barrel to a low of $73.41, while Brent dipped as much as $3.98, or 4.8% to a low of $78.70. Markets will be closely monitoring macro ... Read More
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