Analyzing Key Energy Events This Week

Key energy events

On February 21, the EIA (U.S. Energy Information Administration) is scheduled to release its oil and natural gas inventory data. Early this week, the EIA’s Drilling Productivity Report will likely be important for oil and natural gas prices. If oil and natural gas production increases at a faster rate from US major shale regions, it might drag energy commodities.

Analyzing Key Energy Events This Week

Energy stocks respond to long-term changes in oil and natural gas prices. However, energy stocks are also impacted by short-term energy price movements. Last week, Murphy Oil (MUR), EQT (EQT), and Apache (APA) returned 5.3%, 6.4%, and 11.5%, respectively. US crude oil April futures rose 5.4%, while natural gas March futures rose 1.6%.

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 9.3% and 5.1%, respectively, last week.

Other important events

Apart from these events, Noble Energy (NBL), Devon Energy (DVN), and Concho Resources (CXO) are scheduled to report their fourth-quarter earnings on February 19. The results could be important for the upstream subsector.