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.

Traders responded to signs of economic improvement against tensions between China and the U.S

July 27, 2020
Recap: Oil futures posted modest gains on Friday, as traders responded to signs of economic improvement against tensions between China and the U.S, both of which may influence global energy demand. Investors are also keeping a close eye on the rising cases of COVID-19, which has ... Read More
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Oil futures fell for the second straight session due to coronavirus demand concerns

July 24, 2020
Recap: Oil futures fell for the second straight session as coronavirus demand concerns and an unexpected rise in U.S. crude oil inventories overshadowed weakness in the dollar. As the coronavirus spreads across the U.S. in alarming numbers, the potential for further business shut ... Read More
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Inventory data showed a larger than expected build in U.S. crude oil stockpiles

July 23, 2020
Recap: U.S. oil futures fell slightly on Wednesday, one day after reaching their highest level since March, as inventory data showed a larger than expected build in U.S. crude oil stockpiles, and as tensions between the U.S. and China increase, raising demand concerns. Losses wer ... Read More
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Oil futures surged to a four month high on Tuesday

July 22, 2020
Recap: Oil futures surged to a four month high on Tuesday, catapulted by promising results for a vaccine against COVID-19 and by a European Union stimulus deal. Also supporting the market, were expectations that U.S. crude oil and refined product inventories likely fell last week ... Read More
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Oil futures gained traction after losing footing on Friday

July 21, 2020
Recap: Oil futures gained traction after losing footing on Friday, finding support on positive results from a COVID-19 vaccine trial, which offset the pandemic’s risk to an economic recovery and energy demand. Investors are also looking to the EU summit for trading cues, with lea ... Read More
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Oil futures finished lower on Friday, but managed to squeeze out a second weekly gain

July 20, 2020
Recap: Oil futures finished lower on Friday, but managed to squeeze out a second weekly gain. The number of rising coronavirus cases across the globe has heightened concern that a second round of economic shutdowns may follow, thereby lowering the demand for crude oil. Despite st ... Read More
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A decline in global equities put pressure on oil prices

July 17, 2020
Recap: A decline in global equities put pressure on oil prices Thursday, just one day after trading at their highest level in four months. Prices also pulled back overnight after disappointing retail sales data out of China. China’s retail sales fell 1.8% year-on-year in June, th ... Read More
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Oil futures traded at their highest level in four months

July 16, 2020
Recap: Oil futures traded at their highest level in four months on Wednesday, on the back of the biggest weekly decline in U.S. crude oil inventories so far this year. The higher move came despite the fact that OPEC+ reached an agreement to taper record production cuts starting n ... Read More
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OPEC reported global oil demand will increase by a record 7 million bpd in 2021

July 15, 2020
Recap: Oil prices erased early losses on Tuesday, getting support from a weaker U.S. dollar, as traders weighed uncertainty over the next move for OPEC and its allies on production cuts, and a forecast for a weekly decline in U.S. inventories. Traders are still contending with mo ... Read More
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Oil prices reversed to the downside as OPEC+ is expected to ease output cuts

July 14, 2020
Recap: After a feeble attempt to trade higher on Monday, oil prices reversed to the downside as OPEC+ is expected to ease output cuts, while the number of confirmed Coronavirus cases continues to tick up. OPEC and its allies are hoping global demand will improve as some economies ... Read More
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