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Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies.
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Market Insights
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Gasoline
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Oil futures rose to their highest level in over a year
February 3, 2021
Recap: Oil futures rose to their highest level in over a year on Tuesday, propelled higher by expectations that efforts to cut output by OPEC and other major producers will aid in reducing supplies and help push the market in to a supply shortage. According to reports, the produc ...
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Oil futures traded higher on Monday
February 2, 2021
Recap: Oil futures traded higher on Monday amid strong commitments by Saudi Arabia in cutting back on oil production and reports that President Biden put a pause on new oil and gas leases on federal lands and waters, suggesting a “rigorous review.” This means less supply in the m ...
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Heating Oil
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Baker Hughes reported that the U.S. oil drilling rig count increased by 6 to 295
February 1, 2021
Recap: Oil prices continue to struggle to the upside, as they went back and forth during the week. As there is persistent resistance above this market, there are signs that it may be running out of steam. Adding pressure to the market were weaker equities amid lingering concerns ...
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Heating Oil
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Oil futures bounced around on Thursday
January 29, 2021
Recap: Oil futures bounced around on Thursday, looking for direction, as traders gage the effects of the latest EIA report against the effects of the widely spreading coronavirus and its impact on demand. Prices dipped early in the session due to new COVID-19 related travel restr ...
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Heating Oil
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The EIA reported that U.S. crude oil inventories showed an unexpected massive draw in inventories
January 28, 2021
Recap: Oil prices were trading steady on the opening on hopes that the U.S. government would reach an agreement on a stimulus package and an improvement in the number of COVID-19 cases in China. Prices turned to the downside as the U.S. dollar strengthened and demand for riskier ...
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Oil futures ended mixed on Tuesday
January 27, 2021
Recap: Oil futures ended mixed on Tuesday, with WTI coming under pressure, while Brent held on to gains, as supply concerns, as well as demand dominated market activity. Traders are hoping that President Biden will get his stimulus plan approved soon, which provided some support ...
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Heating Oil
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Crude
Oil futures traded higher on Monday
January 26, 2021
Recap: Oil futures traded higher on Monday, buoyed by optimism over a U.S. stimulation package and supply concerns after it was reported that OPEC and its allies were within 85% compliance with the agreed upon output cuts. Adding to the higher move was the seizure of an Iranian f ...
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Baker Hughes reported that the oil and gas rig count increased by 5 to 378
January 25, 2021
Recap: Oil futures retreated on Friday, turning lower for the week, weighed down by an unexpected build in U.S. crude oil inventories and worries over a resurgence of coronavirus cases in China and its economic impact. An end of the year surge in China’s demand for oil supported ...
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The API reported an unexpected build in U.S. crude oil inventories
January 22, 2021
Recap: It was a lackluster trading session for oil prices on Thursday despite an unexpected build in U.S. crude oil inventories as reported by the API. Oil futures ended mixed, with WTI slightly lower, while Brent posted a modest gain ahead of Friday’s EIA inventory report, delay ...
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Gasoline
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Materials Handling
Oil futures crept higher on Wednesday
January 21, 2021
Recap: Oil futures crept higher on Wednesday, as Joe Biden was sworn in as the forty-sixth President of the United States, lifting hopes that he and his administration will roll out an aggressive pandemic package that would spur the economy. This follows Janet Yellen’s, Biden’s n ...
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