By , , ISMAILIA, Egypt (Reuters) - A huge container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400 metre Ever Given, almost as long as the Empire State Building is high, is blocking transit in both directions through one of the world’s busiest shipping channels for oil and refined fuels, grain and other trade linking Asia and Europe.Late on Thursday, dredgers were still working to remove thousands of tonnes of sand from around the...…By , , ISMAILIA, Egypt (Reuters) - A huge container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400 metre Ever Given, almost as long as the Empire State Building is high, is blocking transit in both directions through one of the world’s busiest shipping channels for oil and refined fuels, grain and other trade linking Asia and Europe.Late on Thursday, dredgers were still working to remove thousands of tonnes of sand from around the...WW…

By , , ISMAILIA, Egypt (Reuters) - A huge container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400 metre Ever Given, almost as long as the Empire State Building is high, is blocking transit in both directions through one of the world’s busiest shipping channels for oil and refined fuels, grain and other trade linking Asia and Europe.Late on Thursday, dredgers were still working to remove thousands of tonnes of sand from around the...…By , , ISMAILIA, Egypt (Reuters) - A huge container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400 metre Ever Given, almost as long as the Empire State Building is high, is blocking transit in both directions through one of the world’s busiest shipping channels for oil and refined fuels, grain and other trade linking Asia and Europe.Late on Thursday, dredgers were still working to remove thousands of tonnes of sand from around the...WW…

By , , CAIRO (Reuters) - The shortest shipping route from Europe to Asia remained blocked on Wednesday as 10 tug boats struggled to free one of the world’s largest container ships after it ran aground in the Suez Canal.The 400-metre, 224,000-tonne Ever Given ran aground on Tuesday morning after losing the ability to steer amid high winds and a dust storm, the Suez Canal Authority (SCA) said in a statement.About 30% of global container shipping volumes pass through the canal each day, carrying everything from fuel to consumer goods. The main alternative route for ships travelling between...…By , , CAIRO (Reuters) - The shortest shipping route from Europe to Asia remained blocked on Wednesday as 10 tug boats struggled to free one of the world’s largest container ships after it ran aground in the Suez Canal.The 400-metre, 224,000-tonne Ever Given ran aground on Tuesday morning after losing the ability to steer amid high winds and a dust storm, the Suez Canal Authority (SCA) said in a statement.About 30% of global container shipping volumes pass through the canal each day, carrying everything from fuel to consumer goods. The main alternative route for ships travelling between...WW…

By NEW YORK (Reuters) - Oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property.“The situation evaporated when it became obvious that there was no damage to the largest oil facility in the world,” said Bob...…By NEW YORK (Reuters) - Oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.Yemen’s Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property.“The situation evaporated when it became obvious that there was no damage to the largest oil facility in the world,” said Bob...WW…

By NEW YORK (Reuters) - Oil prices rose 2% on Monday to their highest in over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus.Brent rose $1.22, or 2.1%, to settle at $60.56 a barrel, while U.S. West Texas Intermediate rose $1.12, or 2%, to settle at $57.97 a barrel. Both benchmarks were at the highest since January 2020.“Managing to breach $60 again feels like the market is finally resurfacing after the long struggle and (taking) a proper breath,” said Rystad Energy’s vice president for oil markets Paola...…By NEW YORK (Reuters) - Oil prices rose 2% on Monday to their highest in over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus.Brent rose $1.22, or 2.1%, to settle at $60.56 a barrel, while U.S. West Texas Intermediate rose $1.12, or 2%, to settle at $57.97 a barrel. Both benchmarks were at the highest since January 2020.“Managing to breach $60 again feels like the market is finally resurfacing after the long struggle and (taking) a proper breath,” said Rystad Energy’s vice president for oil markets Paola...WW…

By NEW YORK (Reuters) - Oil prices settled higher on Monday, as OPEC+ producers almost fully complied in July with their global production cut accord, and after U.S. officials said China is in compliance with the first phase of the two nations’ trade deal.Compliance with OPEC+ oil output cuts is seen at around 97% in July, two OPEC+ sources told Reuters. The oil-producing nations have been cutting output by record levels to curb supply and reduce worldwide inventories.China is living up to its end of the trade deal the two parties signed in January, U.S. President Donald Trump said on...…By NEW YORK (Reuters) - Oil prices settled higher on Monday, as OPEC+ producers almost fully complied in July with their global production cut accord, and after U.S. officials said China is in compliance with the first phase of the two nations’ trade deal.Compliance with OPEC+ oil output cuts is seen at around 97% in July, two OPEC+ sources told Reuters. The oil-producing nations have been cutting output by record levels to curb supply and reduce worldwide inventories.China is living up to its end of the trade deal the two parties signed in January, U.S. President Donald Trump said on...WW…