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 Potential Risk to Crude Supplies Posed by Tensions

November 18, 2022
Recap:  Oil futures opened lower on Thursday and continued moving to the downside, as the potential risk to crude supplies posed by tensions over a missile strike in Poland eases somewhat. Now, demand concerns are likely to be back at the forefront, as China's Covid-19 cases cont ... Read More
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U.S. Crude Oil Stockpiles Fell by 5.4 Million Barrels

November 17, 2022
Recap:  U.S. crude oil stockpiles fell by 5.4 million barrels, to 435.4 million barrels for the week ending November 11, as refinery activity accelerated, according to the Wednesday release by the Energy Information Administration. Analysts were expecting a decline of 500,000 bar ... Read More
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Oil Supply in Hungary Via the Druzhba Oil Pipeline Has Been Temporarily Suspended Due to a Fall in Pressure

November 16, 2022
Recap:  Oil futures bounced off of session lows after news broke that oil supply in Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Adding to the rise in prices was the U.S. producer price index, which showed that prices increased le ... Read More
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Monday's Decline Was Driven Largely by a Stronger Dollar

November 15, 2022
Recap:  WTI oil prices dropped 3.7% to a session-low $85.65 a barrel, while Brent dropped 3.4% to session low of $92.73. Monday's decline was driven largely by a stronger dollar and a return of worries about inflation and a drop in oil demand as the number of coronavirus cases in ... Read More
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Oil Futures Posted a Weekly Loss

November 14, 2022
Recap:  After posting daily declines for most of the week, oil prices spiked on Friday on news that China had eased some of its COVID restrictions. Despite the early session spike, oil futures posted a weekly loss, unable to recover from three consecutive days of declines. Indeed ... Read More
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Inflation in the U.S. Last Month Was Lower Than Expected

November 11, 2022
Recap:  Oil futures erased early gains on Thursday, moving higher after the U.S. Bureau of Labor Statistics released data for October showing that inflation in the U.S. last month was lower than expected.  Over the last 12 months, the CPI increased by 7.7% before seasonal adjustm ... Read More
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Oil Futures Fell for the Third Straight Day on Wednesday

November 10, 2022
Recap:  Oil futures fell for the third straight day on Wednesday after a weekly EIA report showed a large increase in commercial crude oil inventories that was mostly due to more government sales of crude oil from the nation’s strategic reserves to the private sector. A week-on-w ... Read More
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Crude Oil Prices Fell on Tuesday on Growing Concerns about Demand for Fuel

November 9, 2022
Recap:  Crude oil prices fell on Tuesday on growing concerns about demand for fuel as COVID-19 outbreaks worsened in China, and as the U.S. await the outcome of its Midterm elections. The rising number of COVID-19 cases in China leave market participants guessing as to whether or ... Read More
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Oil Futures Turned Lower on Monday

November 8, 2022
Recap:  Oil futures turned lower on Monday, paring earlier gains after rising to more than a two month high, on mixed signals over strict COVID-19 restrictions in China, the world’s largest importer of crude oil. There have been mixed signals about China's reopening. Both WTI and ... Read More
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Crude Prices Were on the Rise Early Friday Morning

November 7, 2022
Recap:  Crude oil prices were on the rise early on Friday morning on continuing fears that the oil markets remain tight with the G7 agreeing on a fixed price capping mechanism on Russian crude. WTI rose more than 5 cents, as the Strategic Petroleum Reserve releases have neared th ... Read More
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