Wood Mackenzie, global energy, chemicals, renewables, metals and mining research and consultancy group, offered its take on the Suez Canal blockage and its impact on the oil prices. Key quotes “There are 16 laden crude and product oil tankers delayed by the Suez Canal blockage.” “Our data suggests that there have been no cargoes diverted to alternative routes such as around the Cape of Good Hope.” “Stocks of crude and products are high in the Atlantic basin.” “A few days of delays in crude or product traveling through the Suez Canal to the west (Europe/Americas) should not have a prolonged impact on the Atlantic basin market.” “If the blockage is prolonged, oil product trade flows from Europe/Mediterranean to East of Suez will suffer a greater impact, reducing the availability of … fuel oil to Asia.” “Would be supportive for Asia product prices and widen the West-East arb in the near term.” Related reads WTI saved from fresh weekly lows as amid heightened geopolitical risk premia Israeli-owned ship reportedly hit by Iranian missile, oil prices remain subdued FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Futures stay firm above 3,900 as risk-on mood gains acceptance in Asia FX Street 8 months Wood Mackenzie, global energy, chemicals, renewables, metals and mining research and consultancy group, offered its take on the Suez Canal blockage and its impact on the oil prices. Key quotes "There are 16 laden crude and product oil tankers delayed by the Suez Canal blockage." "Our data suggests that there have been no cargoes diverted to alternative routes such as around the Cape of Good Hope." "Stocks of crude and products are high in the Atlantic basin." "A few days of delays in crude or product traveling through the Suez Canal to the west (Europe/Americas) should not have a prolonged… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
