Alternatives SteelPath commentary on the midstream energy infrastructure industry

April 8, 2026
Latest SteelPath commentary on the Midstream energy infrastructure industry

Each month, the Invesco SteelPath team provides an update and insight on the most recent midstream industry happenings. Each monthly commentary provides:

  • Market performance update
  • Recent news
  • Chart of the month

Midstream equities continued to outperform1 the broader markets as the conflict in the Middle East drove commodity prices higher and as market participants appear to view an increased call on U.S.-sourced crude oil, natural gas, and natural gas liquids to replace curtailed and displaced volumes from the lack of transit through the Strait of Hormuz. We are pleased to have recently announced another distribution increase on all SteelPath funds. The SteelPath suite of mutual funds have now each increased the distribution in each of the last four calendar years

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  • 1

    Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended March up 1.02% from a price perspective and after distributions are considered. The AMZ outperformed the S&P 500 Index’s 4.98% total return loss for the month. The best performing midstream subsector for March was the Propane group, while the Petroleum Pipeline subsector underperformed, on average.

    For the year through March, the AMZ is up 14.80% on a price basis, resulting in a 16.86% total return. This compares to the S&P 500 Index’s -4.63% and -4.35% price and total returns, respectively. The Compression group has produced the best average total return year-to-date, while the Petroleum Pipeline subsector has lagged.