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 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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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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