Suez Canal Update: WTI falls 1.50% as Ever Given is now afloat – Inchcape
Ever Given, the giant vessel is finally re-floated after ran aground in one of the world’s most important trade paths, Bloomberg reports, citing an update from the maritime services provider Inchcape.
Key takeaways
“The breakthrough in the rescue attempt came after diggers removed 27,000 cubic meters of sand, going deep into the banks of the canal.”
“27,000 cubic meters of sand were dug out, to a depth of 18 meters.”
“Egypt had set a deadline of Tuesday to start unloading the ship if it wasn’t re-floated yet.”
“The ship’s front was damaged, though the vessel is stable.”
Oil falls as the vessel is freed
WTI dropped nearly 1.50% in an immediate reaction to the above piece of news, now trading at $60.10.
WTI: 15-minutes chart
WTI: Technical levels
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
