Oil jumped on fear over prolonged Suez Canal blockage
Oil jumped on fear over prolonged Suez Canal blockage
International benchmarks for crude oil jumped 4% on Friday, 26 March 2021 on the concerns that a prolonged blockage at the Suez Canal might disrupt the global supply of crude oil and refined product more than initially expected.
Brent settled at $64.57/barrel, up $2.62, or 4.2%.
WTI settled at $60.97/barrel, up $2.42, or 4.1%.