Blocked Suez Canal roils energy market
While the mega-tanker is only likely to remain stuck for a couple of days, that’s long enough to create a headache for refiners, traders and producers
24 March 2021 - 11:38
Hong Kong/Singapore — The blockage of the Suez Canal by a giant container vessel is likely to send ripples of disruption through the global energy supply chain.
European and US refiners that rely on the vital waterway for cargoes of Middle Eastern oil may be forced to look for replacement supplies should the blockage persist, potentially boosting prices of alternative grades. At the same time, flows of crude from North Sea fields destined for Asia will be held up...
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