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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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The Market Continued to Trend Higher Amid the Concerns Over Escalating Tensions in the Middle East
January 5, 2024
Recap: The oil market ended the session lower on Thursday on larger than expected builds in product stocks. Earlier in the session, the market continued to trend higher amid the concerns over escalating tensions in the Middle East following the explosions in Iran that killed nea ...
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The Market Continued to Trend Lower in Overnight Trading Despite a Rise in Tensions in the Middle East
January 4, 2024
Recap: The oil market retraced its earlier losses and ended the session higher on Wednesday after posting an outside trading day on Tuesday and ending lower. The market continued to trend lower in overnight trading despite a rise in tensions in the Middle East. The market traded ...
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On Its Final Trading Day of the Year, the Oil Market Ended the Session Down 0.17%
January 2, 2024
Recap: On its final trading day of the year, the oil market ended the session down 0.17%. It also ended the week 2.6% lower and about 10.7% lower on the year, posting its largest one year decline since year end 2020. In overnight trading, the crude market breached Thursday’s low ...
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Oil Market Retraces Gains Amid Easing Red Sea Shipping Concerns
December 29, 2023
Recap: The oil market fell on Thursday as concerns over shipping disruptions along the Red Sea route eased. According to a shipping schedule, Denmark's Maersk will route almost all container vessels sailing between Asia and Europe through the Suez Canal from now on while divertin ...
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Traders Continued to Monitor Developments in the Red Sea
December 28, 2023
Recap: The oil market posted an inside trading day on Wednesday, as traders continued to monitor developments in the Red Sea. This followed Tuesday’s outside trading session. The market traded mostly sideways in overnight trading, posting a high of $75.66, before it sold off mor ...
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Thin Volume Trading on Monday Following the Long Christmas Holiday Weekend
December 27, 2023
Recap: The oil market posted an outside trading day, with thin volume trading on Monday following the long Christmas holiday weekend. The market breached its previous low of $73.39 and posted a low of $73.13 in overnight trading as Denmark’s Maersk said on Sunday it planned to r ...
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The oil market remained steady ahead of the long Christmas holiday weekend
December 26, 2023
Recap: On Friday, the oil market remained steady ahead of the long Christmas holiday weekend as the market remained supported by the concerns over the situation in the Middle East following the Houthi attacks on ships in the Red Sea. The market traded higher in overnight trading ...
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Oil Market Sees Volatility as Angola Opts Out of OPEC
December 22, 2023
Recap: The oil market on Thursday fell as it reacted to cracks in OPEC’s unity following the news that Angola was leaving OPEC. Angola's Oil Minister, Diamantino Azevedo, said the country's membership in OPEC was not serving its interests. Angola, which produces about 1.1 millio ...
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Oil Prices Swing on Unexpected Inventory Surge and Trade Flow Disruptions
December 21, 2023
Recap: The oil market on Wednesday traded lower in light of the EIA report showing an unexpected build in crude stocks on the week, with record U.S. oil output and larger than expected builds in product stocks. The crude market retraced more than 62% of its move from a high of $7 ...
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Oil Markets Navigate Narrow Trading Range Despite Red Sea Shipping Disruptions
December 20, 2023
Recap: The oil market traded higher but posted an inside trading day as it failed to breach Monday’s $3.60 trading range. While the attacks by Yemen’s Houthi rebels on vessels traveling through the Red Sea have impacted shipping and increased the geopolitical risk premium, it has ...
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