7 Jan

Key Energy Events This Week

WRITTEN BY Rabindra Samanta

Key energy events

On January 9 and January 10, respectively, the EIA (U.S. Energy Information Administration) is scheduled to release oil and natural gas inventory data, which could be an important short-term driver for oil and natural gas prices.

Key Energy Events This Week

Energy stocks and ETFs

Energy stocks respond to long-term changes in oil and natural gas prices and short-term energy price movements. Last week, Murphy Oil (MUR), EQT (EQT), and Apache (APA) rose 10.7%, 1.7%, and 7.5%, respectively. US crude oil February futures rose 5.8%, while natural gas February futures fell 7.8%.

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) and the Energy Select Sector SPDR ETF (XLE) invest in energy stocks. Any changes in oil and natural gas prices are expected to influence XOP and XLE, which rose 8.6% and 4.9%, respectively, last week.

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