Lloyd’s values the canal’s westbound traffic at roughly $5.1 billion a day, and eastbound traffic at around $4.5 billion a day. The blockage is further stressing an already strained supply chain, said Jon Gold, vice president of supply chain and customs policy for the National Retail Federation.
Dislodging Suez Canal ship ‘could take weeks’
29 mins ago (12:50 GMT)
Fears of prolonged Suez Canal blockage drive oil prices higher
Oil prices rose sharply on Friday on mounting concerns that it could take weeks to dislodge a giant container ship blocking the Suez Canal, possibly squeezing supplies of crude and refined products.