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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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Oil futures traded higher on Tuesday
January 20, 2021
Recap: Oil futures traded higher on Tuesday, following a rise in equity markets and weakness in the dollar and discounting a cut in the International Energy Agency’s forecast for 2021 demand. The market was also lifted by optimism that a U.S. government stimulus package will boos ...
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IR Energy reported that U.S. oil refiners are expected to shut in 3.7 million bpd of capacity
January 19, 2021
Fundamental News: IIR Energy reported that U.S. oil refiners are expected to shut in 3.7 million bpd of capacity in the week ending January 22nd, increasing available refining capacity by 191,000 bpd from the previous week. Offline capacity is expected to fall to 3.5 million bpd ...
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Oil prices turned lower on Friday
January 18, 2021
Recap: Oil prices turned lower on Friday, as lockdowns in China fueled demand concerns due to coronavirus lockdowns. Demand woes tempered the rally driven by strong Chinese oil imports, the roll out of vaccines and U.S. plans for a large stimulus package. Strength in the U.S. dol ...
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Heating Oil
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Oil futures turned higher on Thursday
January 15, 2021
Recap: Oil futures turned higher on Thursday, boosted by weakness in the dollar and signs of healthy imports by China, but concern over demand kept limited moves to the upside. China’s imports rose 7.3% in 2020, reaching record levels, as refiners ramped up production and lowered ...
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U.S. crude oil inventories are about 8% above the five-year average
January 14, 2021
Recap: Oil prices fell on Wednesday, ending six consecutive sessions of gains for WTI, pressured by a gain in the U.S. dollar and increases in both gasoline and heating oil inventories. WTI slipped off of its highest level in almost a year, partly due to profit-taking, as near te ...
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Oil futures reached their highest level in 11 months
January 13, 2021
Recap: Oil futures reached their highest level in 11 months, bolstered by renewed weakness in the U.S. dollar, as traders continue to buy on hopes Saudi Arabia’s plans to limit supplies would offset weak demand due to the coronavirus. Oil prices were also gaining as equites stage ...
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Heating Oil
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Oil futures retreated from 10-month highs
January 12, 2021
Recap: Oil futures retreated from 10-month highs, as the U.S. dollar posted slight gains, amid rising concern over the number of new coronavirus cases in China. However, oil prices managed to squeeze out slight gains. WTI outperformed Brent, as other members within OPEC followed ...
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Oil futures rose to their highest level in almost a year
January 11, 2021
Recap: Oil futures rose on Friday, to their highest level in almost a year and gaining almost 8% on the week in a large part due to Saudi Arabia’s decision to unilaterally cut crude oil output. It is hoped that the move by Saudi Arabia will tighten the supply/demand ratio, as COV ...
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Heating Oil
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Oil futures reached their highest level in 11-months
January 8, 2021
Recap: Oil futures rose for the third straight session, reaching their highest level in 11-months, boosted by the larger than expected weekly drop in U.S. crude oil inventories and the voluntary actions by Saudi Arabia to further reduce output by 1 million barrels per day. It’s h ...
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Heating Oil
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Oil futures rose to their highest level in 10-months
January 7, 2021
Recap: Oil futures rose to their highest level in 10-months, after Saudi Arabia announced that it would voluntarily cut output, and as U.S. crude oil inventories fell for the fourth straight week. The Saudi Oil Minister said that his country would cut output by an additional 1 mi ...
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