The Suez Canal’s recent spell in the limelight has turned out to be quite revealing. The strategic waterway has dominated headlines for a week after a giant container ship, the Ever Given, got stuck in sand and mud at the canal’s southern end, blocking it and bringing shipping to a …
Read More »Why blockage of Suez Canal could have rollover effect on oil price
According to commodities analyst Kpler, which tracks bulk goods vessels, at least seven tankers bearing 6.3 million barrels of crude oil have been delayed because of the accident. Using the Brent Crude oil price of about $64 a barrel as a value proxy, the seven vessels carry about $403 million worth …
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