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  • Oil Futures Reverse Higher on Disruption in Suez Canal

    03/24/2021 6:42:57 PM PDT · by Aquamarine · 14 replies
    DTN.com ^ | 3-24-2021 | Liubov Georges
    WASHINGTON (DTN) -- Crude and refined products futures on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange reversed higher in early trade Wednesday, with the international benchmark trading as much as 2% higher amid reports a massive Evergreen container ship ran aground in the Suez Canal, choking off passage through one of the world's busiest arteries for oil transit. The 200,000-tonne vessel en route from the Red Sea to the Mediterranean suffered an extensive blackout early Wednesday, causing the ship to turn sideways in the middle of the critical corridor for global oil trade, blocking both...