if MW backs out? This is an all or nothing trade you are engaged in. Add to the pressures that MW may put on sp is the additional influence of the very strong reality that April is going to be a bad month. There has been substantial pipeline disruption and we do not even know if Umugini is back on line.
April downtime as reported in last upadte:
1/ The Umugini pipeline has been down since April 4, 2015 due to an explosion and spill that shut down the Trans Forcados pipeline. This is VERY serious because they cannot alternate lines when it comes under attack so the stage is set for the possibility of a total shut down.
If you know the history MMT was shut totally down for what I recall was 6 months because of attacks on pipelines. There is nothing to say that we won't get a surprise announcement along the same lines.
2/ The NAOC export pipeline was shut down for five days in early April 2015 due to vandalism of the ASE pipeline. The NAOC export pipeline resumed normal operations on April 11, 2015.
3/ The NAOC pipeline was also shut down from April 16 to 19, 2015 because of a lack of storage capacity at the Brass River export terminal due to export shipment delays.