Crude oil futures rebounded strongly on Wednesday after a ship that got struck in the Suez Canal raised concerns about possible supply disruptions.
The MV Ever Given, a Panama-flagged container ship that carries trade between Asia and Europe, became grounded Tuesday in the narrow, man-made waterway dividing continental Africa from the Sinai Peninsula, threatening to disrupt a global shipping system already strained by the coronavirus pandemic.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.