JULY: Crude flat as energy market seeks direction | How passive investing impacts the midstream sector

JUNE: Energy market gets a boost from oil price rebound | OPEC+ agreed to extend production cuts into 2020, a positive tailwind for crude prices

MAY: Market volatility hits energy sector in May | Oil prices: Another downturn or just a blip?

APRIL: Energy space mostly flat in April | How high are midstream correlations?

MARCH: March closes out a stellar Q1 for energy | Is there still upside for midstream?

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.

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.

DECEMBER: Energy markets declined sharply as oil prices fell and equity markets sold off. Crude oil fell another $5.26/bbl amid continuing concerns of a supply glut. The recent energy sell-off has pushed midstream valuations to multi-year lows.

NOVEMBER: Oil prices plummet while energy assets fall more modestly. Midstream company results continue to belie market performance.

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.