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Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies. Download PDF Reader.

Drone Attack by Iran-Backed Militants on U.S. Troops in Northeastern Jordan

January 30, 2024
Recap: The oil market gapped higher on the opening on Sunday evening from $78.26 to $78.90 after three U.S. service members were killed and about 40 were wounded in a drone attack by Iran-backed militants on U.S. troops in northeastern Jordan near the Syrian border. The crude mar ... Read More
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Positive U.S. Economic Growth and Economic Stimulus in China

January 29, 2024
Recap: The oil market on Friday retraced some of its earlier losses in afternoon trading and settled higher for a second consecutive week. Positive U.S. economic growth and economic stimulus in China and a larger than expected draw in crude stocks for last week all combined to mo ... Read More
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Oil Prices Climb Following Significant Inventory Drawdown and Positive Economic Stimulus Signals

January 26, 2024
Recap: The oil market continued to trend higher on Thursday as the market remained well supported following the EIA report on Wednesday showing a larger than expected draw in crude stocks last week of more than 9 million barrels. The market was also supported by news of China cut ... Read More
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Oil Market Surges on Unexpected Drop in Crude Stocks and Decline in U.S. Production

January 25, 2024
Recap: The oil market traded higher on Wednesday following a larger than expected draw in crude stocks and fall in U.S. crude output. The geopolitical tensions in the Middle East also continued to support the oil market. The oil market traded higher in overnight trading as it tra ... Read More
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Inside Trading Day Highlighted by Resistance at Highs and Strong Support Despite Global Events

January 24, 2024
Recap: The crude market posted an inside trading day as it failed to breach its previous trading range. The market posted the day’s trading range by mid-day as it bounced off a low of $73.41 and traded to a high of $75.25. The market remained well supported in overnight trading f ... Read More
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Volatile Trading Amid Geopolitical Tensions, Production Resumptions, and Weather-Related Disruptions

January 23, 2024
Recap: The oil market on Monday posted an outside trading day as the market traded lower on news that production at Libya's Sharara oilfield resumed on Sunday after protesters ended a sit-in that had halted output since early January before it traded higher on news of a drone att ... Read More
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Oil Market Volatility: Middle East Tensions, Global Economy Worries, and Extreme Weather Impact

January 22, 2024
Recap: The oil market traded higher early in the session on Friday but gave up its gains and ended the session in negative territory as the market weighed the Middle East tensions against concerns over global economies and its impact on demand. The market was supported amid conce ... Read More
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The market was well supported by the IEA forecasting strong growth in global oil demand

January 19, 2024
Recap: The oil market on Thursday continued to retrace its recent losses and ended the session over 2% higher. The market was well supported by the IEA forecasting strong growth in global oil demand and the EIA reporting a larger than expected draw in crude stocks. The IEA said i ... Read More
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The oil market continued to trend lower on Wednesday on concerns over demand following weak economic data from China.

January 18, 2024
Recap: The oil market continued to trend lower on Wednesday on concerns over demand following weak economic data from China. China’s economy in the fourth quarter expanded by 5.2% on the year, missing analysts expectations and calling into question forecasts that see Chinese dema ... Read More
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Oil Prices on Tuesday Reversed Some of the Losses Seen During Monday's Shortened Trading Session in Observance of the Martin Luther King, Jr. Holiday

January 17, 2024
Recap: Oil prices on Tuesday reversed some of the losses seen during Monday’s shortened trading session in observance of the Martin Luther King, Jr. holiday, as the market weighed concerns over attacks on tanker ships in the Red Sea against concerns that energy demand will weaken ... Read More
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