Over the coming days and weeks, more vessels are expected to have to decide if they will cross through the Suez Canal or via the Cape of Good Hope
Suez
Posted inDRILLING & PRODUCTION
Oil dips as market corrects Suez blockade gains and US stocks rise
Oil prices corrected excess gains that accumulated from the Suez Canal blockade as the disruption’s effect is likely not one that will last too long, while US stocks rose last week
Posted inDRILLING & PRODUCTION
Oil rises on Suez blockage and European purchases, but lockdowns take toll
Oil prices rose on Wednesday due to a blockage at the Suez Canal, which prevents normal traffic of oil tankers, but concerns that heavy lockdowns in Europe will affect the demand recovery still keep prices lower than few weeks ago
Posted inNews
Egypt tension boosts oil prices
Oil prices reach a 14-month high, on Egypt crisis & US supplies’ fall