GLOP - Week Thoughts: Update From Zombieland
As if stuck on repeat, oil and natural gas were up, midstream was down this week. The S&P 500 paused its upward trajectory, and utilities were negative for a second straight week. Income securities had a rough month generally, and it feels like midstream is being painted with the "income stock" brush rather than the "energy stock" brush.
Energy stocks more broadly traded well in September, alongside a second straight positive month for oil, which punched back through the $70/bbl ceiling and has some technical analysts calling for $100/bbl.
Midstream investors seemed to wake up