Oil prices have already surged by six per cent as fears mount a container ship blocking the Suez Canal could be stuck for weeks – stopping all vessels from entering or leaving one of the world’s busiest trade routes.
The 400-metre-wide Ever Given has been grounded diagonally across the waterway since Tuesday after being overcome by strong winds.
Eight tugs are working to move the vessel, as 206 large container ships are backed up at either end of the canal.