ENLK - Midstream So Hot Right Now
Midstream had another big week, helped by recovering commodity prices and strong equity market backdrop. Midstream (U.S. and Canada) fared better on average than MLPs this week, with the AMNA posting a 4.4% gain to catch and pass the Alerian MLP Index for the year so far. Midstream also outperformed utilities by a wide margin.
Oil is back above $50/bbl, buoyed by Saudi jawboning and signs of capital discipline from U.S. producers at an industry conference. Perhaps midstream commentary at a conference in Utah next week and from Kinder Morgan (KMI) earnings on Wednesday can