Egypt suspends traffic in Suez Canal as crews try to free grounded ship

Suez Canal in Egypt

The Suez Canal in Egypt. PHOTO | AFP

What you need to know:

  • Oil prices have dived more than one per cent in a rollercoaster week for the commodity, partly because of the Suez Canal accident.
  • Salvage experts warned the shut-down could last days or even weeks, potentially forcing businesses to re-route cargo ships around the southern tip of Africa in a blow to global supply networks.