QV: Suez Blockage Poses Limited Risk To Prices

摘要

The Latest: On March 24, Taiwan's Evergreen Marine announced that its container ship the Evergreen had run aground in the Suez Canal. Efforts to dislodge the vessel - which is 440m long and 59m wide - have so far failed. Some have speculated that, in order to move the ship, some of its cargo may have to be unloaded, a process which could take days to weeks. Oil prices have risen in response. Gaining around 4.0% from its weekly low of USD60.8/bbl on March 23, to reach USD63.3/bbl as March 26.