VLP - Energy Companies Accelerate Their Focus Toward Capital Returns

Hello, I am Tortoise Managing Director and Portfolio Manager Brian Kessens with this week’s QuickTake podcast. During a heavy week of earnings reports last week, energy performance was mixed. MLPs improved a tenth of one percent and broad energy fell just less than half of one percent. Crude oil prices were range-bound, helped by inventories falling nearly 11 million barrels in the U.S. and continued tensions in the Strait of Hormuz, offsetting Saudi Arabia and Kuwait discussing plans to restart some shared production in a neutral zone between the two countries.

Producers did feel

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