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What to Watch for in the Energy Sector This Week

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Nov. 20 2020, Updated 11:29 a.m. ET

Important events on the energy calendar  

Let’s take a look at some important events for the energy sector this week:

Tuesday, December 20:

  • API’s (American Petroleum Institute) crude oil inventory report

Wednesday, December 21:

  • EIA’s (U.S. Energy Information Administration) Weekly Petroleum Status report (for information on the last report, read US Crude Oil Inventories Supported Crude Prices)
  • EIA’s This Week in Petroleum report

Thursday, December 22:

Friday, December 23:

  • Baker Hughes’s US crude oil rig count
  • Baker Hughes’s US natural gas rig count
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Impact on crude oil prices, stocks, and ETFs  

All these events impact US crude oil and natural gas prices. Moves in crude oil prices can impact the earnings of oil and gas producers such as ConocoPhillips (COP), Northern Oil & Gas (NOG), QEP Resources (QEP), SM Energy (SM), Chevron (CVX), and Warren Resources (WRES).

The ups and downs in crude oil prices and natural gas impact funds such as the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Guggenheim S&P 500 Equal Weight Energy ETF (RYE), the DB Crude Oil Double Short ETN (DTO), the Direxion Daily Energy Bear 3x (ERY), the Energy Select Sector SPDR ETF (XLE), the ProShares Ultra Bloomberg Crude Oil (UCO), the United States Oil ETF (USO), the ProShares UltraShort Bloomberg Crude Oil (SCO), the Fidelity MSCI Energy ETF (FENY), 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 December 19, 2016.

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