March 11, 2019
FEBRUARY: Energy markets continued to bounce back from Q4 lows. Oil prices rose moderately as OPEC has started to implement planned production cuts. Q4 midstream earnings were generally solid and investors may finally be getting comfortable with the space.
February 8, 2019
JANUARY: Energy markets recovered meaningfully as oil prices bounced back from December lows. Oil prices were supported by OPEC+ production cuts and U.S. sanctions on Iran and Venezuela. The wave of MLP simplifications is in its later stages and may be a positive for investors going forward.
November 13, 2018
OCTOBER: Each energy sector sold off with the rest of the market in October. Crude oil prices saw their largest monthly decline since 2015, but are still up $5/bbl since the end of 2017. While October saw a reversal of some positive market trends, we believe long-term midstream fundamentals remain supportive.
October 12, 2018
SEPTEMBER: Upstream and integrated oil companies bounced back in September while midstream performance was negative. Risks in Colorado weighed on midstream sentiment. Retail investors are increasingly using funds to access the energy infrastructure space.
September 14, 2018
AUGUST: Upstream and integrated oil companies struggled in August while midstream performance was mixed. MLPs continued their strong run as sentiment has turned more positive. Positive fundamentals drove solid Q2 earnings for many midstream companies.
August 10, 2018
JULY: Despite a moderate decline in oil prices, July was another positive month across the energy sector. Midstream equities were the top performers for the month, with MLPs in particular rallying. A revised regulatory ruling from FERC contributed to a positive backdrop for the midstream sector.