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 prices climbed to their highest level since March

November 25, 2020
Recap: Oil prices climbed to their highest level since March, as the start of the U.S. presidential transition got underway and on more promising news of additional vaccines. Oil futures also followed equity markets higher, as traders appear to be happy with Joe Biden’s decision ... Read More
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Oil futures gained more than 2% on Monday

November 24, 2020
Recap: Oil futures gained more than 2% on Monday, as optimism over a vaccine continues to be the main catalyst that is pushing prices higher. The contango structure in the market, whereby the prices of front-month delivery contracts are lower than those for delivery six months la ... Read More
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Oil prices rose for the third straight week

November 23, 2020
Recap: Oil prices rose for the third straight week with WTI settling above $42 a barrel for the first time since the beginning of September, and Brent barely missing the $45 mark. WTI and Brent recovered from early weakness, as  traders finished the week with a sense of optimism ... Read More
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Oil futures traded modestly lower on Thursday

November 20, 2020
Recap: Oil futures traded modestly lower on Thursday, as the coronavirus situation in the U.S. worsens, and new restrictions are imposed. While concern about the number of new COVID-19 cases have risen, the contango market conditions in Brent, where the front end of the curve tra ... Read More
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The market was also supported by a smaller than expected increase in U.S. crude oil inventories

November 19, 2020
Recap: Oil futures traded higher on Wednesday, on vaccine related optimism and hopes that OPEC would delay plans to increase output. The market was also supported by a smaller than expected increase in U.S. crude oil inventories. WTI rose to a fresh high for the week, to trade ab ... Read More
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Oil prices peeled back recent gains Tuesday on signs of exhaustion

November 18, 2020
Recap: Oil prices peeled back recent gains Tuesday on signs of exhaustion as the rising number of coronavirus cases overshadowed hopes for a vaccine. The short term economic outlook remains cloudy with European countries imposing tighter restrictions.  An option gaining support a ... Read More
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A report showed China’s crude oil throughput rose 2.6% in October

November 17, 2020
Recap: Oil futures traded higher in overnight trading, spurred by a report that showed China’s crude oil throughput rose 2.6% in October from a year earlier to its highest-ever level as fuel demand firmed on strong holiday travel. A second boost came after Moderna announced that ... Read More
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The oil market on Friday fell for the second consecutive session

November 16, 2020
Recap: The oil market on Friday fell for the second consecutive session, pressured by increasing output from Libya and the concerns that the increasing coronavirus infections may slow a recovery in the economy and impact fuel demand.   While the news of the vaccine earlier this w ... Read More
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Oil futures were pressured by the unexpected increase in U.S. crude oil inventories

November 13, 2020
Recap: Oil futures fell on Thursday, pressured by the unexpected increase in U.S. crude oil inventories and lower demand expectations due to the spread of COVID-19. Prices had traded higher for a good portion of the session, as the potential for a vaccine renewed hopes that deman ... Read More
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API inventory numbers showed a 5.1 million barrel draw in U.S. crude oil stockpiles.

November 12, 2020
Recap: For the first time since the beginning of September, WTI tested the $43 level, while Brent touched above $45, as traders continued to react to the possibility of a COVID-19 vaccine and yesterday’s API inventory numbers, which showed a 5.1 million barrel draw in U.S. crude ... Read More
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