EnergyScan

The fall in prices interrupted by the blockade of the Suez Canal

Crude oil prices plunged yesterday on raising concerns about global demand fuelled by bad news about the pandemic (see the Daily Eco). API data also pointed to a new rise in US crude stocks last week. The Brent 1st-nearby prices fell to almost $60/b and WTI prices to $57.25, their lowest levels since the first half of February. But they have rebounded this morning on the news that an giant ship blocked the Suez canal, which may have a strong temporary impact on oil transportation. About 10% of total seaborne oil trade goes through the canal.

us-weekly-stock-change
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-economy
January 31, 2022

Can the renewed optimism be confirmed?

The US equity markets ended the week with a bang, with the Nasdaq up 3.1%. Long-term rates are slowly rising (10-year US at 1.79%) and…
ES-gas
May 31, 2021

European prices down again

European gas prices extended (moderately) losses on Friday as the rise in temperatures continued to exert downward pressure. The drop in Asia JKM prices and…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!

[booked-calendar]