Key energy events

Between January 16 and January 19, 2018, the events mentioned in the table below could be important for US crude oil prices as well as natural gas prices.

Key events January 16–18, 2018

Oil at a 3-Year High: Factors to Watch This Week

The EIA (U.S. Energy Information Administration) Drilling and Productivity Report (or DPR) could be important for US crude oil (USO) (DBO) (UCO) as well as natural gas (UNG) (BOIL) prices. A rise in production and productivity levels of oil and natural gas from the US major shale regions could limit the upside in these two energy commodities.

US crude oil futures

On January 12, 2018, US crude oil futures closed at $64.30 per barrel, their highest closing price since December 8, 2014. On the same day, natural gas futures closed at $3.20 per MMBtu (million British thermal unit), their highest closing price since November 13, 2017.

In addition to the EIA data, OPEC’s (Organization of the Petroleum Exporting Countries) Monthly Oil Market Report and the IEA (International Energy Agency) Oil Market Report could be important for US crude oil prices, which are at their three-year highs. Higher oil (BNO) prices could benefit the energy exposure of equity indexes such as the S&P 500 Index (SPY) (SPX-INDEX) and the Dow Jones Industrial Average Index (DIJA-INDEX). So these events could also impact the equity indexes.

Latest articles

On September 14, drones attacked Saudi Arabia Aramco's oil-infrastructure. Saudi Arabia's oil production has fallen by 50%.

Apple Arcade (AAPL) is a subscription gaming service that was unveiled at Apple’s annual event last week. The service will launch on September 19.

Cannabis legalization is gaining traction not only in the US but also globally. The third presidential Democratic debate was held on September 12.

Google has agreed to make a one-time settlement of over $945 million euros to the French ministry. The ministry accused Google of evading taxes.

In Q4 2018, legendary investor George Soros sold all his holding in Apple (AAPL). In Q3 2018, Apple represented around 0.2% of his total portfolio.

Jim Chanos, the founder and president of Kynikos Associates, is a long-time short-seller of Tesla stock. Tesla stock has fallen 17.5% in the last year.