3/29, 2:33 PM (Source: TeleTrader)
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Oil prices up with Suez Canal ops set to take time to recover

Prices of oil futures rose on Monday after the world's largest container shipping line Maersk warned that "the [Suez Canal] blockage has already triggered a series of further disruptions and backlogs in global shipping that could take weeks, possibly months, to unravel," causing additional concerns over the impact the now-resolved Suez Canal blockage issue will have on global oil supplies down the line.

Brent for May deliveries was up 0.94%, going for $65.17 per barrel at 6:20 am ET, while West Texas Intermediate (WTI) for settlements in the same month gained 0.84%, selling for $61.48 per barrel a minute later.

Breaking the News / MS