Tortoise Managing Director Rob Thummel in S&P Global

Bank troubles wash up on oil and gas midstream stocks

Some investors have exited oil and gas midstream stocks in search of less risky assets after a series of global banking debacles, but two years of capital discipline by processing and pipeline companies have strengthened balance sheets and made the companies less vulnerable to an economic downturn.

Energy industry financial analysts said the real impact of recent bank failures will take some time to affect the oil and gas complex, but in an atmosphere of uncertainty, some investors became wary of oil and gas stocks.

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