11 Feb

Which Events Might Shape Oil Prices This Week?

WRITTEN BY Robert Scott

Key energy events

On February 13–14, the EIA (U.S. Energy Information Administration) is scheduled to release its oil and natural gas inventory data. Early this week, the EIA’s Short-Term Energy Outlook report will likely be important for oil and natural gas prices. If the EIA downgrades the natural gas outlook more, it might drag natural gas–weighted stocks like Range Resources (RRC) and Gulfport Energy (GPOR), which we’ll discuss in Part 4.

Which Events Might Shape Oil Prices This Week?

Global oil supply

The International Energy Agency’s Oil Market Report and OPEC’s Monthly Oil Market Report scheduled to be released early this week could be important for US crude oil prices, which fell 4.6% last week. The Brent-WTI spread might react to these reports. In Part 1, we discussed how the global oil supply impacted the spread. Oil-weighted stocks like Oasis Petroleum (OAS), Whiting Petroleum (WLL), and Devon Energy (DVN) might react to changes in oil prices.

Apart from these events, Antero Resources (AR) is scheduled to report its fourth-quarter earnings on February 13. The results could be important for the upstream subsector.

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