
What Does The Suez Canal Blockage Mean For Oil Prices?
On Wednesday, the significance of the Suez Canal in Egypt was uncovered as oil prices pushed up after a cargo ship ran aground, obstructing the critical chokepoint for Persian Gulf oil. The “blip” in the oil market “represents people buying in after recent declines in oil prices, with the Suez closing the trigger factor,” said Michael Lynch, president of Strategic Energy & Economic Research. Despite … Continue reading What Does The Suez Canal Blockage Mean For Oil Prices?