Russia is in no hurry to see the Suez Canal re-opened ...Middle East

Quartz - Economy
Russia is in no hurry to see the Suez Canal re-opened
source : Quartz ( Middle East ) () 10
When the Ever Given, a 400-foot container ship, ran aground in the Suez Canal on Mar. 23, it choked off a busy shipping lane for the global oil and gas trade. Ten percent of global seaborne oil trade, plus a large volume of liquified natural gas (LNG) and petroleum, sails through the canal daily, mostly delivering petroleum products from the Middle East to refineries and distributors in Europe. Now at least 16 fossil fuel tankers are stuck in the jam, according to energy market analysis firm Wood Mackenzie.In normal times, that kind of backup would cause oil prices to jump. But for most of the week, the effect was muted. Pandemic-related travel restrictions and the slow rollout of vaccines i

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