Why Units of MPLX Tumbled 42.7% in March
Units of master limited partnership (MLP) MPLX (NYSE: MPLX) cratered 42.7% in March, according to data provided by S&P Global Market Intelligence. Weighing on the midstream company was a nosedive in the price of oil and an update on its strategic review.
Oil prices tumbled more than 50% last month. That's weighing heavily on the profitability and balance sheets of oil producers. One has already filed for bankruptcy, which has investors worried that several more will follow.
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Source Fool.com
