Important events on the energy calendar
Let’s take a look at some important events for the energy sector this week:
Tuesday, October 11:
- IEA’s (International Energy Agency) monthly Oil Market Report
Wednesday, October 12:
- OPEC’s (Organization of the Petroleum Exporting Countries) monthly Oil Market Report
- API’s (American Petroleum Institute) Crude Oil Inventory report
Thursday, October 13:
- The EIA’s Weekly Petroleum Status report—for information on the last report, read US Crude Oil Inventories Are Down 26 Million Barrels in 5 Weeks
- EIA’s This Week in Petroleum report
- EIA’s Weekly Natural Gas Storage report—read Natural Gas Inventories Limited the Upside for Natural Gas Prices for information about the last report
- EIA’s Natural Gas Weekly Update
Friday, October 14:
- Baker Hughes’s US crude oil rig count—see Part 6 in this series for more information
- Baker Hughes’s US natural gas rig count
Impact on crude oil prices, stocks, and ETFs
All of these events influence crude oil and natural gas prices. The rollercoaster ride in crude oil prices impacts oil and gas producers’ earnings such as Sanchez Energy (SN), QEP Resources (QEP), Triangle Petroleum (TPLM), and Swift Energy (SFY).
These factors also impact funds such as the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the iShares U.S. Energy ETF (IYE), the United States Oil ETF (USO), the ProShares UltraShort Bloomberg Crude Oil ETF (SCO), the Fidelity MSCI Energy (FENY), the ProShares Ultra Bloomberg Crude Oil (UCO), the iShares Global Energy (IXC), the Energy Select Sector SPDR (XLE), and the iShares US Oil Equipment & Services ETF (IEZ).
In the next part, we’ll take a look at the crude oil market’s highs and lows in 2016. Let’s start with US crude oil prices during early morning trade on October 11, 2016.