Energy and Precious Metals Market events for February 2-3, 2023

On February 2, the focus is on natural gas reserves in the United States. On February 3, data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold, silver, aluminum and copper are on the agenda.

February 2, 2023

18:30 GMT+3 – Natural Gas Storage. Forecast: -142В. Previous value: -91В

An increase in reserves usually puts pressure on natural gas prices, all other things being equal, and vice versa.

February 3, 2023

21:00 GMT+3 – U.S. Baker Hughes Oil Rig Count. Forecast: –. Previous value: 609

21:00 GMT+3 – U.S. Baker Hughes Total Rig Count. Forecast: –. Previous value: 771

An increase in the number of oil platforms and drilling rigs puts pressure on oil prices, all other things being equal, while a decrease in the number on the contrary supports prices.

23:30 GMT+3 – CFTC Crude Oil speculative net positions. Forecast: –. Previous value: 249.8K

23:30 GMT+3 – CFTC Natural Gas speculative net positions. Forecast: –. Previous value: -171K

23:30 GMT+3 – CFTC Gold speculative net positions. Forecast: –. Previous value: 157.7K

23:30 GMT+3 – CFTC Silver speculative net positions. Forecast: –. Previous value: 25.7K

23:30 GMT+3 – CFTC Aluminium speculative net positions. Forecast: –. Previous value: 5.9K

23:30 GMT+3 – CFTC Copper speculative net positions. Forecast: –. Previous value: 20.2K

Indicators of net speculative positions usually do not have a strong impact on metal quotes and are considered by analysts in conjunction with other indicators. However, the increase in indicators indicates a slight increase in demand for metals and vice versa.

More information is provided by the economic calendar.