So far in 2019, WTI and Brent crude oil spot prices have averaged $56.9 per barrel and $64.3 per barrel. The prices are lower than the average expectations.
On Thursday, PG&E's chairman, Bill Johnson, said that preventive power shutoffs could continue for at least five more years.
Midstream MLPs have recovered after hitting multiyear lows early this month. The ALPS Alerian MLP ETF (AMLP) is up more than 10% in the last two weeks.
PG&E stock is trading higher today. A judge approved the company's settlement with California wildfire victims. The stock gained 12.8% during trade on Tuesday.
California Governor Gavin Newsom rejected PG&E's (PCG) reorganization plan on December 13. The rejection is a huge setback for the company.
Last week, Goldman Sachs increased its target on oil prices, but only for the short term. Its long-term target on oil prices is almost unchanged.