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 Brief Outage of the Keystone Pipeline Failed to Keep the Market Supported Ahead of the Weekend

March 11, 2024
Recap: The oil market on Friday posted an outside trading day and ended the week down 2.45% after the market gave up its overnight gains as a brief outage on the Keystone pipeline failed to keep the market supported ahead of the weekend. The market traded higher in overnight trad ... Read More
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Expectations That U.S. Interest Rate Cuts Could Be Delayed Against Supportive Chinese Trade Data and Increased Tensions in the Middle East

March 8, 2024
Recap: The oil market posted an inside trading day on Thursday as it weighed expectations that U.S. interest rate cuts could be delayed against supportive Chinese trade data and increased tensions in the Middle East after the first fatal attack on Red Sea shipping. U.S. Federal R ... Read More
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A Smaller Than Expected Build in Crude Stocks and Large Draws in Product Stocks

March 7, 2024
Recap:  The crude market traded higher on Wednesday on a smaller than expected build in crude stocks and large draws in product stocks as well as remarks by U.S. Federal Reserve Chair Jerome Powell that he still expects interest rate cuts this year. The market was also well suppo ... Read More
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China Announced an Economic Growth Target of 5% for 2024

March 6, 2024
Recap:  The oil market continued to trend lower for the second consecutive session after China’s economic growth targets provided little optimism about an immediate economic rebound. China announced an economic growth target of 5% for 2024. However economists believe it is a goal ... Read More
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An Inside Trading Day on Monday Following the Widely Expected Extension of Voluntary Output Cuts

March 5, 2024
Recap:  The oil market posted an inside trading day on Monday following the widely expected extension of voluntary output cuts through the middle of the year by OPEC+. On Sunday, OPEC+ decided to extend their voluntary oil output cuts of 2.2 million bpd into the second quarter to ... Read More
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The Market Awaited an OPEC+ Decision on Supply Agreements for the Second Quarter

March 4, 2024
Recap:  The oil market rallied higher on Friday and ended the week 4.55% higher as the market awaited an OPEC+ decision on supply agreements for the second quarter. Earlier in the week, OPEC+ sources stated that the producer group will consider extending voluntary oil output cuts ... Read More
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The Market Bounced Higher Ahead of the Release of U.S. Inflation Data for January

March 1, 2024
Recap:  The oil market posted an inside trading day after it posted the day’s trading range by mid-day. The market posted a low of $77.95 in overnight trading. However, the market bounced higher ahead of the release of U.S. inflation data for January. The crude market traded high ... Read More
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Builds in U.S. Crude Stocks Offset its Gains From a Potential Extension to the OPEC+ Output Cuts

February 29, 2024
Recap:  The oil market ended the session mostly sideways after posting the day’s trading range by mid-morning as larger than expected builds in U.S. crude stocks offset its gains from a potential extension to the OPEC+ output cuts. The crude market posted a low of $77.78 in overn ... Read More
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The Market Focused on Uncertainty Over a Potential Gaza Ceasefire and Expectations That OPEC+ Will Extend Voluntary Supply Cuts

February 28, 2024
Recap:  The crude market on Tuesday traded higher as the market focused on uncertainty over a potential Gaza ceasefire and expectations that OPEC+ will extend voluntary supply cuts in March. Israel, Hamas and Qatari mediators remained cautious about the progress towards a truce i ... Read More
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The Oil Market on Monday Rallied Higher as Houthi Rebel Attacks Increased Concerns of Disruptions to Supply

February 27, 2024
Recap:  The oil market on Monday rallied higher as Houthi rebel attacks increased concerns of disruptions to supply. The U.S. Central Command said Houthi rebels in Yemen narrowly missed hitting a U.S.-flagged tanker on Saturday. The Houthi fired a missile that likely targeted the ... Read More
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