Key Events for Oil Prices This Week

Key energy events

On January 2–5, 2018, US crude oil prices will be more reactive to the inventory and weekly US crude oil production data. In Part 1, we analyzed the importance of US crude oil production for oil (UCO) (BNO) (OIIL) prices.

Key Events for Oil Prices This Week

Similarly, inventory data for natural gas prices scheduled on January 4, 2018, would also be important for natural gas prices near the $3 level. We discussed this earlier. The oil rig count and natural gas rig count data could be important for more bullishness in natural gas and oil prices in 2018. Movement in oil prices might be important for the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) due to their exposure to energy stocks, as we discussed in Part 2.

For more analysis, visit Market Realist’s Energy and Power page.