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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  • 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.

  • Tortoise Talk
    July 31, 2014

    Second quarter 2014: Mid-year energy review

    At the halfway mark in 2014, North America’s progress toward energy independence has continued to gain momentum, and the story on exports is picking up political steam as well.



  • 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.

  • Tortoise Talk
    October 24, 2013

    2013: Rounding the bend

    As we head into the final quarter of 2013, we remain excited about the energy revolution unfolding in North America. Gaining momentum daily, this energy renewal has the potential to dramatically fuel U.S. economic growth by creating more than a million U.S. jobs and generating billions in federal, state, and local tax revenues. It also is creating catalysts for change and opportunity throughout the North American energy value chain.

  • Tortoise Talk
    July 23, 2013

    2013: Mid-year review

    As we move into the second half of 2013, the nation continues its progress toward energy security. In fact, in March, we actually met more than 80 percent of our own energy needs. The robust oil and natural gas production out of North America’s unconventional shale basins continues to grow at an astonishing pace, with U.S. oil production this year hitting its highest level (an average of 7.3 million barrels per day) since January of 1992.¹ This robust production is also powering growth in the midstream sector of the energy value chain, creating profitable opportunities for midstream companies involved with transporting oil and gas from drilling sites to where they are needed.