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.

A Price Cap of $60 a Barrel Took Effect on Monday

December 6, 2022
Recap: Oil futures turned lower on Monday, adding to last week's gain, after a European Union ban on importing Russian seaborne crude and a price cap of $60 a barrel took effect Monday, while OPEC kept its production quotas unchanged at a Sunday meeting. The West imposed sanction ... Read More
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Crude Oil Prices Fell Friday After the European Union Reached a Deal

December 5, 2022
Recap: Crude oil prices fell Friday after the European Union reached a deal to cap Russian oil at $60 a barrel. The price cap, which will ban Western companies from insuring, financing or shipping Russian oil, is intended to keep Russian crude flowing into the global market with ... Read More
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Oil Futures Rose on Thursday after China Eased COVID Restrictions in Two Major Cities

December 2, 2022
Recap: Oil futures rose on Thursday after China eased COVID restrictions in two major cities, while the U.S. dollar slumped on the view that the Federal Reserve might slow down on interest rate hikes. The shift in China's zero-COVID strategy raised optimism about a recovery in oi ... Read More
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Oil Prices Rose as Much as $3 on Wednesday Amid Optimism

December 1, 2022
Recap: Oil prices rose as much as $3 on Wednesday amid optimism that China will ease lockdown restrictions, bolstering the economy and demand for fuel, while supplies dropped in the U.S. and a weaker dollar made crude cheaper for foreign buyers. Brent crude, the international sta ... Read More
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Oil Futures Firmed on Tuesday

November 30, 2022
Recap:  Oil futures firmed on Tuesday, as traders hoped the loosening of China’s strict COVID-19 restrictions would lead to an increase in demand. The potential for new output cuts from the Organization of the Petroleum Exporting Countries and their allies, together known as OPEC ... Read More
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Oil Prices Slipped in Early Trading on Monday

November 29, 2022
Recap:  Oil prices slipped in early trading on Monday, falling close to their lowest level this year, as street protests against strict COVID-19 curbs in China, the world’s biggest crude importer, stoked concern over the outlook for fuel demand. A rebound ensued as rumors of an O ... Read More
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Oil Prices Fell as Much as 4% on Wednesday

November 28, 2022
Recap: Oil prices fell as much as 4% on Wednesday as the Group of Seven (G7) nations looked at a price cap on Russian oil above where it is currently trading and as U.S. gasoline stocks rose by 3.1 million barrels, according to the Energy Information Administration. Analysts had ... Read More
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Oil Futures Recovered Early Tuesday From the Steep Slump Instigated on Monday

November 23, 2022
Recap:  Oil futures recovered early Tuesday from the steep slump instigated Monday by mixed news that OPEC and its allies were mulling churning out more oil. Oil prices increased on Tuesday as Saudi Arabia said the Organization of the Petroleum Exporting Countries will continue w ... Read More
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Oil Futures Experienced a Volatile Trading Session on Monday

November 22, 2022
Recap: Oil futures experienced a volatile trading session on Monday, opening slightly higher then falling to their lowest level since early January, only to recoup some of the session losses. This activity followed reports that OPEC and its allies were considering a production in ... Read More
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A Recently Strong Dollar Has Added to Oil's Declines

November 21, 2022
Recap:  Caught between recession fears and the fact that Fed officials seem unwilling to back down from their stance toward more rate-hikes specifically aimed at killing demand, in order to curb inflation combined with weakening demand in China to push oil prices lower on Friday. ... Read More
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