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Key Energy Events This Week

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Key energy events

The EIA (U.S. Energy Information Administration) is scheduled to release its oil and natural gas inventory data on April 24 and April 25. The data will likely be a short-term driver for oil and natural gas prices. Apart from the inventory data, the rig count report on April 26 will likely be important for the energy sector.

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Energy stocks

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) fell 7%, 4.2%, and 1.7%, respectively. US crude oil June futures rose 0.1%, while natural gas May futures fell 6.3%. 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 energy commodities are expected to influence XOP and XLE, which fell 2% and 0.5%, respectively, last week.

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