Saudi Aramco has extended its suspension of Liquefied Petroleum Gas (LPG) deliveries through May. The decision stems from structural damage sustained during recent Iranian attacks.
This development has significantly impacted market sentiment. The probability of Gulf States undertaking military action against Iran by April 30 has surged to 50%, a dramatic increase from just 4% the previous day. Traders are closely monitoring statements from Crown Prince Mohammed bin Salman and CENTCOM for potential shifts in engagement.
The jump in market odds is directly linked to ongoing conflict, including US-Israel joint strikes and Iranian assaults on Saudi infrastructure. Energy assets in the Gulf now face direct threats, prompting a market repricing of these risks.