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Energy Sector Recap: What Happened in the Space Last Week

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Part 7
Energy Sector Recap: What Happened in the Space Last Week PART 7 OF 7

This Week’s Key Energy Events

Energy events

The API (American Petroleum Institute) crude oil inventory data this week could be an important driver for US crude oil (USO)(USL)(UCO) prices. Because the market expects an increase in the US refinery utilization rate, we could see lower US crude oil commercial stockpiles.

This Week&#8217;s Key Energy Events

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US GDP data could also be crucial for US crude oil as well as natural gas (UNG)(BOIL) prices. This week, the EIA’s (US Energy Information Administration) natural gas inventory data could decide the path of natural gas prices, like it did last week.

Fluctuations in energy commodity prices are critical for energy ETFs such as the Fidelity MSCI Energy ETF (FENY) and the Energy Select Sector SPDR ETF (XLE).

For more updates on the energy sector, visit our Energy and Power page.

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