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.

The EIA reported an increase of 5.7 million barrels in last week’s inventory report

June 11, 2020
Recap: Oil futures climbed for the second straight session, despite U.S. crude oil stockpiles rising to record levels. Prices had spent part of the session trading to the downside after the EIA reported an increase of 5.7 million barrels in last week’s inventory report, but the d ... Read More
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The Bureau of Safety and Environmental Enforcement reported that 31% of U.S. Gulf of Mexico oil production remained offline

June 10, 2020
Recap: Crude oil futures gave early losses on Tuesday to close higher on the day, on increased expectations for a rebound in energy demand. Prices spent most of the session trading to the downside, pressured by concerns above compliance with the newly-extended agreement by OPEC+ ... Read More
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OPEC+ agreed to extend current production cuts through July

June 9, 2020
Recap: Oil futures settled lower on Monday, with prices down more than 3% as traders focused on the potential for higher production from the US, Mexico and Libya. Meanwhile, OPEC+ agreed to extend current production cuts through July, Saudi Arabia, the UAE and Kuwait have no plan ... Read More
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The major oil producers are expected to reach an official agreement to extend record production cuts

June 8, 2020
Recap: Oil prices rose on Friday after an unexpected fall in the May U.S. unemployment rate and OPEC’s decision to bring forward to Saturday discussions on whether to extend record production cuts. The major oil producers are expected to reach an official agreement to extend reco ... Read More
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High oil producer compliance to output cuts contributed to a third straight climb

June 5, 2020
Recap: Trading in oil futures started out to the downside on Thursday, but then grinded higher in what was a lackluster session. High oil producer compliance to output cuts contributed to a third straight climb, even as questions were raised about the potential for an extension o ... Read More
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Oil prices finished at their highest level in three months

June 4, 2020
Recap: Oil prices finished at their highest level in three months on Wednesday, as news that OPEC+ producers have reached an agreement to extend recent production cutbacks into July. While weekly declines in U.S. crude stockpiles and supplies at the Cushing, Okla. storage hub rep ... Read More
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Crude oil futures jumped by more than $1 a barrel on Tuesday

June 3, 2020
Recap: Crude oil futures jumped by more than $1 a barrel on Tuesday after it was reported that Saudi Arabia was in favor of extending cuts one to three months longer and as worldwide coronavirus restrictions continue to ease. Major producers, including Russia have said they would ... Read More
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Tensions between the U.S. and China raised concern over the prospect of demand

June 2, 2020
Recap: Oil futures opened to the downside, with traders unloading risk, as tensions between the U.S. and China raised concern over the prospect of demand. July WTI slipped 3.4%, to a session low of $34.27 a barrel. However, losses were pared on the heels of a report that major oi ... Read More
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Both WTI and Brent posted significant monthly gains during the month of May

June 1, 2020
Recap: Oil futures, which gapped lower on the opening, reversed to the upside as investors worried about worsening tensions between the U.S. and China. Both WTI and Brent posted significant monthly gains during the month of May on signs of increasing demand due to the easing of c ... Read More
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The EIA report showed that U.S crude oil imports surged to 7.2 million b/d

May 29, 2020
Recap: Oil futures turned higher on Thursday, posting strong gains, as traders shrugged off the 7.9 million barrel build in U.S. crude oil inventories and instead focused on the 700,000 barrel drop in gasoline stockpiles and the 3.4 million barrel fall in crude oil stored at Cush ... Read More
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