Margins tightened slightly during a relatively uneventful week at Mont Belvieu, Texas, in terms of NGL price movements.
Crude oil, however, shot up on April 11 to its highest point since December 2014 following President Donald Trump’s warning on Twitter of a coming missile strike against Syria. The assault would be in response to the recent chemical weapons attack in the city of Douma, for which the U.S. has blamed the Syrian government and Russia.
Missile launches into Saudi Arabia from Houthi rebels in Yemen did little to calm traders’ nerves, either. Rebels claimed that their missiles were aimed at the Saudi defense ministry and the town of Najran, home to an Aramco oil distribution center.