U.S. offers to help open Suez Canal, sees potential impact on energy market

The White House stated Friday that the U.S. has supplied to help Egypt in its ongoing efforts to free a massive cargo ship stuck in the Suez Canal.

“We are monitoring the scenario very intently,” press secretary Jen Psaki instructed reporters, noting that the blockage seems to be taking a toll on energy markets.

“As a part of our lively diplomatic dialogue with Egypt, we have supplied U.S. help to Egyptian authorities to help reopen the canal,” Psaki stated.

“We are consulting with our Egyptian companions about how we will greatest assist their efforts. So these conversations are ongoing and hopefully we’ll have extra to say about that quickly,” she stated.

The Ever Given, one of many world’s largest delivery vessels, has blocked all site visitors alongside the crucial commerce route since working aground greater than three days earlier.

At about 400 meters in size, the ship is sort of so long as the Empire State Building is excessive.

Some worry it could take weeks to clear the canal, which handles round 12% of worldwide commerce. That prospect is starting to impact the economy and disrupt international supply chains.

“We do see some potential impacts on energy markets from the function of the Suez Canal as a key bidirectional transit route for oil, and clearly that is one of many causes we supplied help from the United States,” Psaki stated Friday.

“We are in shut session with the Egyptians about that,” she stated, including, “We’re going to proceed to monitor market situations and we’ll reply appropriately if needed, however it’s one thing we’re watching intently.”