ETRN - Midstream Dusted
After a solid start to the week, midstream stocks collapsed over the last four days this week, including big declines Tuesday and Friday. Broad stock market volatility and weakness due to ramping COVID-19 cases drove the overall weakness, with commodity prices correlation driving much more downside capture for midstream this week.
June Gloom
Midstream (AMNA) finished the week down 7.6%, outperforming MLPs and U.S. midstream corporations by a wide margin. Midstream is back to matching YTD oil price change in the mid-30% negative return range.
With just 2 days left in June, indexes are on