president put out a statement saying that the egyptians have succeeded in overcoming that crisis. that level of optimism may be premature. progress there has been. the crisis isn t over yet. indeed. so much trade has been stalled through that route. people rerouting their shipments. we ll see if that follows through in higher prices down the road. at least temporarily. ben wiedeman, thank you so much for that. oil prices are actually falling on hopes the suez canal will reopen soon. the ship blocking the trade route has been partially freed. brent crude futures on the global benchmark falling a little bit here. we also have wti futures, the u.s. benchmark, falling, as well. the ever given has been stuck for nearly a week disrupting global trade, which had been under pressure because of the pandemic. analysts warn of higher prices of the traffic jam dragged on for another week. about 12% of global trade passes through the suez canal.
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goods to port. the latest from cairo. reporter: six days and counting, the saga goes on. the ever given, a massive container ship that ran aground in the suez canal tuesday is still stuck. a multipronged effort to free the vessel is under way after several unsuccessful attempts. from dredging to tugboats in one of the world s busiest waterways. sunday egyptian president abdel al sisi said the ship should start preparing to lighten the load. but among other things, that would require a powerful enough crane which egypt doesn t have. teams of salvage experts from holland and japan are trying to refloat the more than 200,000 ton ship owned by evergreen marine, a taiwanese company. the u.s. navy is also getting involved and says it s planning to send an assessment team of dredging experts. at first, strong winds and a
why is he going big? other than his own ego? think about it, i ll see you next time on life, liberty and levin the ship that has been block the suez canal has been freed. it s unclear when the canal will re-open for trade. but this is definitely a huge relief. the what tore route accounts for roughly 12% of global trade. the chairman of the canal said we are not finished yet, but it has moved. the wedged ship that has been blocking the suez canal has been partially freed. i m marianne rafferty.
the people defiant again. some with slingshots, bows and arrows, and molotov cocktails. linsey, a dozen nations including the u.s. joined together for a rare statement condemning yesterday s violence. but with both sides refusing to back down, it seems that harsh words will do little to stop the conflict. julia, thank you. efforts to try to move the ship blocking the suez canal expected to resume tomorrow. this new video showing dredgers moving tons of sand, hoping to dislodge the ever given. now stuck for six days. more than 300 ships standing by. the economic impact could soon be felt here at home. here s deirdre bolton. reporter: tonight, this major traffic jam caused by that mega ship stuck more than 6,000 miles away, potentially affecting wallets here at home. around 12% of global trade goes through the suez canal, a vital shipping artery.