Oil price strength and a rebounding S&P 500 provided a positive backdrop for midstream this week, and midstream stocks traded up. With little stock-specific news, gains can largely be attributed to the good kind of correlation to oil prices, income-oriented equities and the stock market. Within midstream, MLPs underperformed midstream corporations and Canada.
The Alerian Midstream Energy Index ((AMNA)) closed the week with a 20%+ total return for the year. The MLP Index is losing to that index by more than 500 basis points YTD and year over year. It has also been exactly one