Key energy events
On September 18, 2017, the EIA (U.S. Energy Information Administration) will report its monthly Drilling Productivity report. Based on the previous report’s estimates, the oil rig efficiency fell on a month-over-month basis in September 2017. The falling oil rig efficiency combined with the consolidating oil rig count could push oil (USO) prices higher.
The EIA’s crude oil inventory data are also a key driver for oil prices. US unemployment claims could give a glimpse of the US economy, which could impact oil and natural gas prices.
Apart from the weather report that we discussed in Part 1, the EIA’s natural gas inventory data could also impact natural gas prices.
The above table gives a list of important events that could impact crude oil and natural gas prices this week. Moves in energy prices can impact stocks across subsectors (XOP) (AMLP) (OIH) (CRAK) that are exposed to energy prices.
For more updates on energy commodity prices, visit Market Realist’s Energy and Power page.