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Commodities Today: Oil Names Rally Again, Could China Buy Energy Assets

We are seeing a broad rally across the spectrum of oil equities, with the largest gains coming where one would expect them to; the MLPs and companies with leverage. EV Energy Partners, LP (EVEP), Linn Energy (LINE) and LinnCo (LNCO) are all rising sharply (in the 5-6% range) along with names such as Laredo Petroleum (LPI) and Goodrich Petroleum (GDP) as investors wade back into the market as oil prices are once again north of $50/barrel in WTI terms.

It seems strange that investors would be interested in the MLPs that are experiencing problems due to prices which have fallen, but there is a lot of good news with this recent rally in crude. First, we have seen prices either go up or move sideways which has given the market confidence that a bottom has most likely been put in. Next, investors feel that the distributions are at least somewhat… Read More …