Bloomberg
US · 2 hrs ago
✦ 78✓ Factual
Suez Canal Gets Oil-Tanker Boost Amid Hormuz Strait Shutdown
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Oil tanker traffic through Egypt's Suez Canal increased significantly in April, generating record revenue as disruptions at the Strait of Hormuz redirected energy shipments through the alternative Red Sea route.
Suez Canal Gets Oil-Tanker Boost Amid Hormuz Strait Shutdown
The number of oil tankers crossing Egypt’s Suez Canal surged by almost a third in April and drove revenue to the highest since early 2024, as the closure of the Strait of Hormuz spurred an alternative Red Sea energy route.
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