Midstream outperformed the market again this week, and they had a much better week than Bitcoin had. It was a 6th straight positive week for MLPs, continuing to attract enough net flows to grind higher. MLPs are up 13.7% over that stretch. Even with oil prices faltering this week on ongoing Iran nuclear chatter, midstream stocks held up. Good vibes from strong earnings season and consistent messaging at the MEIC conference this week may have helped.
Full post has some more thoughts on inflation and midstream performance, impact of inflation on midstream financials and operations, the DAPL ruling Friday, potential for M&A from here, and the F-150 announcement.
That’s in addition to the usual weekly update on Winners & Losers and news flow (which has been light).
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