Continuing Suez blockage boosts oil prices 2%
Both oil benchmarks are on track for a small weekly loss, following a more than 6% decline last week
26 March 2021 - 12:12
Tokyo — Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday, on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.
Prices, however, were still headed for a third consecutive weekly loss, with the outlook for demand dented by new coronavirus lockdowns in Europe...
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