Oil Prices Rise As Suez Canal Crisis Comes To An End

Oil prices were trading up on Monday afternoon, even as news quickly spread in the market that the vessel that has blocked the Suez Canal for days had finally been freed. At 2:47 p.m. EDT, WTI was trading up $0.46 per barrel at $61.43 per barrel, while Brent crude was trading up $0.32 per barrel at $64.89. The vessel known as the Ever Given had caused a major traffic jam in the Canal, which has held up oil tankers in the area for days. Canal traffic is soon expected to be moving once again, but will take some time to clear the 360-strong …