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Memorial Production: Top Upstream MLP Loser on Friday, July 24

Midstream and Upstream MLP Gainers and Losers on Friday, July 24

(Continued from Prior Part)

United States Oil Fund

In the last two parts of this series, we analyzed the best and worst performing midstream MLPs on Friday, July 24. To put those movements into context, we’ll analyze the performance of energy-related ETFs and upstream MLPs on the same day.

The United States Oil Fund (USO) fell 0.68% on Friday. USO tracks the daily movement in WTI (West Texas Intermediate) light crude oil. On Friday, WTI crude oil for August delivery settled down $0.74, or -0.99%, at $48.25 per barrel. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.02% on the same day.

Upstream MLPs

Upstream MLPs that fell in Friday’s trade tracked the fall in crude oil. They include Linn Energy (LINE), Atlas Resource Partners (ARP), Memorial Production Partners (MEMP), and Eagle Rock Energy Partners (EROC). They fell 1.70%, 2.56%, 1.36%, and 2.22%, respectively. Upstream companies’ earnings are significantly tied to crude oil and natural gas prices. The United States Natural Gas Fund (UNG) tracks daily movements in natural gas futures. It fell 1.40% on Friday.

Alerian MLP ETF

The Alerian MLP ETF (AMLP) is comprised of 25 midstream energy MLPs. It rose 0.80% on Friday. AMLP outperformed the SPDR S&P 500 ETF Trust (SPY) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) by 1.84 percentage points and 3.82 percentage points, respectively. SPY tracks the broader S&P 500 Index. It fell 1.04%. AMLP has returned -13.98% YTD (year-to-date), while SPY rose 1.20% over this timeframe.

For more company and industry analysis on MLPs, visit Market Realist’s Master Limited Partnerships page.

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