Energy Stocks Outperformed Oil And The Broader Market
On December 1-eight, 2017, midstream inventory NGL Vitality Partners LP (NGL) was the how petroleum refinery works biggest gainer among energy stocks. These energy stocks belong to the VanEck Vectors Oil Providers ETF (OIH), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Vitality Select Sector SPDR ETF (XLE), and the Alerian MLP ETF (AMLP). Our checklist additionally comprises a few US-listed built-in energy stocks.
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Another midstream stock, Crestwood Equity Partners LP (CEQP) was the fifth-largest gainer final week. The Alerian MLP ETF how petroleum refinery works (AMLP) fell 1.1%—the second-smallest loser in our energy subsector ETFs how petroleum refinery works throughout this interval, as we mentioned in the previous half. On December 6, CEQP announced that it “closed on the beforehand introduced transaction to promote one hundred% of the fairness interests of US Salt, LLC (“US Salt”) to an affiliate of Kissner Group Holdings LP for $225 million.”
Downstream stocks like PBF Power (PBF), Valero Energy (VLO), and CVR Energy (CVI) have been the second, third, and fifth-largest gainers among energy stocks in the week ending December 8, 2017. In reality, the VanEck Vectors Oil Refiners ETF (CRAK), which tracks global refining firms, rose 1.6% during this interval.
On December 8, 2017, PBF Energy introduced the election of George E. Ogden as the unbiased director.
Last week, the S&P 500 Index (SPY) rose 0.Four%, while US crude oil January futures fell 1.7%. So, all of the vitality stocks discussed above have outperformed oil as well because the broader market.