RTLR - SteelPath December MLP Updates And News

• Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended November up 21.7% on a price basis and up 23.8% once distributions are considered.
• MLP yield spreads, as measured by the AMZ yield relative to the 10-year US Treasury bond, narrowed by 278 basis points (bps) over the month, exiting the period at 1,058 bps.
• West Texas Intermediate (WTI) crude oil exited the month at $45.34 per barrel, up 26.7% over the period and 17.8% lower year-over-year.
• Natural gas prices ended November at $2.88 per million British thermal units (MMbtu), down 14.1% over the month but 26.3% higher than November 2019.

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