Archive

Week Thoughts: Pending Catalysts

26Mar
MLPs finished the week negative overall, but showed relative strength against the broad market and energy stocks (but not against utilities). Oil prices drifted lower on an unwind of long oil bets, driven by concerns U.S. production growth is too much, raising uncertainty about the next OPEC meeting, even though its 2 months away.  Without much

Week Thoughts: Get Pain While You Wait

18Mar
MLPs made it two straight negative weeks with a 0.9% decline.  Oil prices finished up slightly on the week, stepping back from the abyss with a bullish inventory report Wednesday.  We got an oil relief rally, a FED relief rally, even a Canadian jacket company IPO.  Still, MLPs failed to attract broad-based buying.  NGL prices were down sharply, perhaps

Week Thoughts: MLPs Plan, Oil Laughs

12Mar
MLPs wilted this week, down 3% under pressure from oil’s return to the market’s front burner.  Other negative factors were rising interest rates rising and a stock market not achieving any new highs.  Oil was down more than 9% week over week, breaking below $50/bbl for the first time this year.  Natural gas crossed back onto the good side of $3.00 on

Week Thoughts: MLPs SNAP Back, Pivot

05Mar
MLPs bounced back this week, despite spiking interest rates and some oil volatility.  MLPs finished up 1.1%, riding the wave of optimism that took over the market on Wednesday following President Trump’s tempered joint session of Congress speech. No equity deals and execution of previously announced M&A also probably helped MLP