Risk was definitively off this week across energy stocks, commodities and the broader stock market. Naturally, utilities and REITs caught a bid, and midstream did not. Within midstream, Canada held up well and helped AMNA outperform the AMZ and AMUS. Despite MLPs posting their second worst week of 2019, MLP and midstream indexes are on track to finish September positive, but more on that after the close Monday.
Oil prices closed out the week below their 200-day and 100-day moving averages. We have now reverted to prices from just prior to the largest oil outage