Important events on the energy calendar
Let’s take a look at some important events for the energy sector this week:
Tuesday, November 15:
- API’s (American Petroleum Institute) Crude Oil Inventory report
Wednesday, November 16:
- EIA’s (U.S. Energy Information Administration) Weekly Petroleum Status report—for information on the last report, read How Do US Crude Oil Inventories Influence Crude Oil Prices?
- EIA’s This Week in Petroleum report
Thursday, November 17:
- EIA’s Weekly Natural Gas Storage report—read Record US Natural Gas Inventories Hurt Natural Gas Prices and Midwest and South Central Natural Gas Inventories Rose Last Week for information about the last report
- EIA’s weekly natural gas update
Friday, November 18:
- Baker Hughes’s US crude oil rig count—see Part 6 of 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 impact US crude oil and natural gas prices. Volatility in crude oil prices can impact oil and gas producers’ earnings such as PDC Energy (PDCE), Marathon Oil (MRO), ConocoPhillips (COP), Warren Resources (WRES), and Swift Energy (SFY).
The ups and downs in natural gas and crude oil prices also impact funds such as the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the ProShares Ultra Bloomberg Crude Oil (UCO), the iShares Global Energy ETF (IXC), the PowerShares DWA Energy Momentum ETF (PXI), the Direxion Daily Energy Bear 3x ETF (ERY), the ProShares UltraShort Bloomberg Crude Oil (SCO), the Fidelity MSCI Energy ETF (FENY), the Energy Select Sector SPDR ETF (XLE), and the iShares US Oil Equipment & Services (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 November 14, 2016.