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Broader Markets Might Be Spooking the Midstream Space

Robert Scott
Broader Markets Might Be Spooking the Midstream Space

On September 20–27, major energy ETFs had the following correlations with US crude oil November futures: the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 98.6% the Energy Select Sector SPDR ETF (XLE): 88.3% the VanEck Vectors Oil Services ETF (OIH): 74.6% the Alerian MLP ETF (AMLP): -4%