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The EIA reports that the Suez Canal and SUMED pipeline handled about 9% of seaborne petroleum trade and 8% of global LNG trade in 2017. Southbound crude and product flows through Suez have risen since 2016, with US and Russian crude increasingly heading to Asia and the Middle East.
This is a background explainer on energy chokepoints; it describes no new disruption, so the direct price effect on feed commodities is minimal.
eia.govJul 23, 2019After 36 past logistics events, Crude Oil (Brent) moved a median +0.2% over 5 sessions (50% higher; middle half -4.6% to +3.2%), and +1.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
