Suez Canal Blockage May Ripple Through Global Energy Market

Home Community Industry News Suez Canal Blockage May Ripple Through Global Energy Market

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    Greensea Systems
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    By Serene Cheong, Annie Lee and Sharon Cho (Bloomberg) —

    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 U.S. 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.

    The critical trade route has been thrown into turmoil after the container ship Read more by visiting gCaptain.

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