Oil prices rebounded as traders fretted over possible supply issues given that a giant container ship has blocked the Suez Canal. Stock markets fell further Wednesday, as investors dumped risky shares on concerns that Europe's worsening coronavirus crisis could derail economic recovery, dealers said. Oil prices rebounded as traders fretted over possible supply issues given that a giant container ship has blocked the Suez Canal, a key route. Investor fears are growing over another deadly wave of the Covid-19 pandemic, adding to concerns over a stimulus-fuelled global inflation spike. World oil prices recovered somewhat, as traders fished for bargain crude after Tuesday's slump.

Source: News 24 March 24, 2021 13:30 UTC