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Suez Canal Snarled by Giant Ship Choking Key Trade Route

  • Oil prices rise on concern waterway could be blocked for days
  • Incident has caused congestion for tankers, ships in the area
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WATCH: A giant container ship ran aground in the Suez Canal, blocking off traffic in both directions on one of the world’s busiest maritime trade routes. (Source: Bloomberg)
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A giant ship could be stuck in the Suez Canal for days, blocking one of the world’s busiest maritime trade routes that’s vital for the movement of everything from oil to consumer goods.