Important events on the energy calendar
The energy sector contributed to ~6.5% of the S&P 500 (SPY) (SPX-INDEX) on March 24, 2017. Oil and gas producers’ earnings such as Continental Resources (CLR), Chevron (CVX), Synergy Resources (SYRG), and Goodrich Petroleum (GDP) depend on crude oil (USO) (DIG) (PXI) and natural gas (UNG) (FCG) (BOIL) prices. For the latest updates on crude oil prices, read Part 1 and Part 4 of this series.
Crude oil and natural gas prices are driven by catalysts such as inventories and supply and demand data. Let’s take a look at some important events for the energy sector this week:
Tuesday, March 28:
- The API (American Petroleum Institute) will release its crude oil inventory.
Wednesday, March 29:
- The EIA (U.S. Energy Information Administration) will release its Weekly Petroleum Status report. For more on the crude oil market’s outlook in 2017, read What Can Investors Expect in the Crude Oil Market in 2017? and Decoding the World Oil Supply and Demand Gap in 2017.
- The EIA will release its This Week in Petroleum report.
Thursday, March 30:
- The EIA will release its Weekly Natural Gas Storage report. Read What Can Investors Expect from the Natural Gas Market in 2017? for more on the natural gas market outlook in 2017.
- The EIA will provide its weekly natural gas update.
Friday, March 31:
- Baker Hughes will release the US crude oil rig count.
- Baker Hughes will release the US natural gas rig count.
In the next part, we’ll take a look at the crude oil market’s highs and lows in the last 12 months.