Key energy events
On February 6–7, the U.S. Energy Information Administration is scheduled to release its oil and natural gas inventory data, respectively, which could be important short-term drivers for oil and natural gas prices.
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) returned 1.9%, -1.6%, and 1.8%, respectively. US crude oil March futures rose 2.9%, while natural gas March futures fell 11%.
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 0.6% and 3.1%, respectively, last week.