Good news! Ships Stranded in the Suez Canal Finally Successfully Diverted - Kakiforex.com - Financial Market Media No. 1 in the World Good news! Ships Stranded in the Suez Canal Finally Successfully Diverted Good news! Ships Stranded in the Suez Canal Finally Successfully Diverted

March 29, 2021

Good news! Ships Stranded in the Suez Canal Finally Successfully Diverted

 Oil prices fell again after the giant container ship Ever Given was reported to have successfully floated on Monday morning after being stuck for nearly a week in the Suez Canal, according to maritime services provider Inchcape Shipping.


Ever Given, also known as Ever Green as written on the hull, was successfully re-floated at about 4.30am local time in Egypt after 27,000 cubic meters of sand were excavated.


However, so far it remains unclear whether when routes on the canal will be allowed for traffic. More than 300 ships have been stranded since Ever Given blocked the route linking Asia to Europe and the United States.



Oil-carrying tankers, container ships and bulk carriers were among the hundreds of ships stranded at both ends of the canal.


Crude oil trading, which gained support from the incident, traded back down following the report.


Brent crude futures fell 1.6% to $ 63.40 a barrel, while US WTI traded at $ 59.90 a barrel after falling about 1.7% in the Asian session.


The Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+allies, will meet this week to determine the next oil production setting.