Suez Canal ramps up efforts to end blockage, US watching energy mkt impact
CAIRO (Reuters) – The Suez Canal stepped up efforts on Friday to free a stuck mega vessel, after an earlier attempt failed to end a blockage that has lifted shipping rates for fuel tankers and scrambled global supply chains for everything from grains to baby clothes.
In Washington, the White House said the Biden administration was seeing the impact of the incident on energy markets and would respond to the situation if required.
Shipping rates for oil product tankers have nearly doubled after the 400-metre (430-yard) long Ever Given ran aground in the vital trade waterway on Tuesday due to strong wind.
