Why Enterprise Products Partners Rallied 23.2% in the First Half of 2021
Units of Enterprise Products Partners (NYSE: EPD) surged 23.2% during the first half of 2021, according to data provided by S&P Global Market Intelligence. Improving conditions in the energy market have been fueling the master limited partnership (MLP).
Energy demand has rebounded in 2021 as the global economy reopens, thanks partly to the rollout of vaccines helping to curb the pandemic. Enterprise Products Partners noted in February that it saw strong demand for natural gas liquids (NGLs), driven by demand for plastics. Likewise, oil demand has come roaring back. In May, the company noted that global oil consumption could top 100 million barrels a day by year-end and hit a new all-time high next year as the global economic rebound accelerates.
Source Fool.com