OIL PRICES FALL AS SHIP REMAINS PARTIALLY STUCK
Oil prices fell today as the Ever Given was partially refloated, raising hopes the waterway would soon be back in action.
Brent oil was down 29 cents, or 0.5%, at $64.28/bbl this morning, according to Hart Energy.
WTI crude in the U.S. fell 55 cents, or 1%, to $60.42/bbl.
“Now that the Suez mini-crisis is being resolved the oil market is left to its own fundamental devices again,” said PVM Oil Associates analyst Tamas Varga.
“Attention will shift back to the stuttering inoculation programs, the seemingly unstoppable rise in infection rates in several parts of the world and the upcoming OPEC meeting on April 1,” he added.
Officials said that while the boat has been partially refloated, rescuers were still working to get the ship moving again.