By Stacey Morris
Energy investors, and particularly MLP investors, have likely been frustrated with the lagging performance of energy stocks relative to the improvement in crude prices. We discussed this at length in our white paper on crude correlations and MLPs from December 2017. In April and May, we saw energy stocks outperform West Texas Intermediate ((WTI)) crude, in a reversal of a trend since late 2017 (see chart below). In today's post, we look at the lagging performance of energy relative to crude and potential reasons for the recent catch-up by energy stocks.
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