MLPs remained buoyant despite a sharp decline in crude oil last week. US crude oil saw a sharp 5.0% cut on July 11 following reports of a rise in crude oil exports from Libya. However, it recovered slightly on July 13 due to a significant decline in US crude inventories. Overall, WTI fell 3.8% during the week to close at $71.00 per barrel. For a recent update and outlook on crude oil prices, please read Why Oil Bears May Be at Risk.