Midstream was negative across the board this week, and the MLP Index lost more ground to the other midstream indexes that include corporations. Lower oil prices, higher interest rates and general aversion to energy stocks were likely reasons for continued weakness for the sector. Reported progress on China trade discussions buoyed the market towards the end of the week, which helped stop the bleeding.
This was the third straight negative week for midstream and MLPs. The MLP Index is down 7.1% and the AMNA is down 4.7% over that stretch. The MLP Index is now