Week Thoughts: Prepared to Adapt

Reiterating guidance in the face of uncertainty

Midstream performance this week was ok, but not as good as hoped on a bounce back week for oil prices. But the expectation of a slowdown in U.S. production may be a part of the bounce in oil prices. 2025 guidance reiterations were consistent across the sector, which was comforting. But with generalist interest waning amid lower oil prices, hedge fund positioning around earnings whipped stocks around, using liquidity offered by earnings to make moves. Maybe less re-positioning next week.