Market Commentary

Commentary offers insight into industry and market trends impacting our investment strategies. You can email the current commentary to yourself, or subscribe to automatically receive future editions via email.

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  • How Commodity Price Volatility Affects the Energy Value Chain
    June 22, 2015


  • Tortoise Talk
    April 30, 2015



  • Rising Rates - MLPs can persevere in a rising rate environment
    April 24, 2015

    With higher rates likely on the horizon, some investors are wondering about what this might mean for their MLP investments. Consider these scenarios.

  • 2015: Market Insights
    February 4, 2015

    As we head into early 2015, read our views on why we remain optimistic about current and developing opportunities in North American energy.   


  • Impact of crude oil prices across the energy value chain
    December 9, 2014

    Last week, we highlighted our key takeaways from OPEC’s November 27th meeting. Now we’d like to share our thoughts on how the decline in crude oil prices may affect the energy value chain.

  • Key takeaways from OPEC's November 27th meeting
    November 28, 2014

    As noted in our October market commentary (read here), we believe the decline in oil prices over the past quarter has been largely driven by three key factors: speculation of slowing demand from Europe and China, the strengthening U.S. dollar, and increasing global supply. The market has been waiting for the November 27th OPEC meeting to see if a cut in the crude oil production quota would be mandated.

  • Tortoise Talk
    October 31, 2014

    Third quarter 2014: Energy review

    Despite recent commodity price volatility, North American oil and gas production continues to exceed expectations, driving our nation's progress toward greater energy independence.

  • Tortoise's view on recent market volatility in closed-end funds
    October 21, 2014

    The recent decline in crude oil prices has caused a short-term ripple effect across the broad energy market, as noted in our recent market commentary. This sell- off in the energy sector, coupled with macroeconomic factors that have restrained the broader closed-end fund market for the past several months, has created a challenging period for energy-focused closed-end funds. But at Tortoise, we continue to believe in the fundamentals of the underlying assets and the long-term investment opportunity our closed-end funds offer investors.

  • Tortoise's view on recent market volatility
    October 15, 2014

    Tortoise's view on recent market volatility

    The recent decline in crude oil prices has certainly caused a short-term ripple effect across the broad energy market. But at Tortoise, we remain steadfast in our view that North America is still in the early innings of an energy revolution and we also believe that fundamentals across the energy value chain remain intact.

  • 2014: A mid-year outlook
    July 8, 2014

    2014: A mid-year outlook

    The energy sector enjoyed strong performance in the first half of 2014, with oil and gas production growth continuing to escalate. The Energy Information Administration forecasts that domestic crude oil production will reach an annual average of 8.4 million barrels per day (MMbbl/d) in 2014 (this milestone was reached in May) and 9.3 MMbbl/d in 2015. Meanwhile, the U.S. has become a global leader in natural gas production. Here’s our 2014 summary outlook for each sector of the value chain for the second half of the year.

  • Making sense of taxes: The ABCs of MLPs
    March 6, 2014

    As the holidays turn to tax season, feelings of festivity are replaced with something more like confusion and dread. And for good reason. Various investments inevitably spark tax-related questions.

  • 2014: A look ahead
    January 21, 2014

    Read our views on opportunities emerging in 2014 that we expect will drive growth across the energy value chain.