Oil jumps amid Suez Canal blockage
Crude futures rose on Friday as the Suez Canal blockage continued to cause supply disruption concerns.
On Thursday, the Suez Canal Authority temporarily halted all navigation through the key shipping passageway until the large container ship that got stuck in the canal is removed. A salvage company warned it could take weeks to remove the vessel.
Brent for May delivery climbed 1.73% to sell for $63.04 per barrel at 3:10 am ET and West Texas Intermediate (WTI) for settlements in May surged 2% to go for $59.73 per barrel at the same time.
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