FTI - Oil prices rebound but Suez Canal blockage could ease soon

Energy ([[XLE]] +3.2%) sprints to the top of the S&P sector standings after a giant cargo ship runs aground in the Suez Canal, helping crude oil to rebound from yesterday's dive to a six-week low.May WTI crude (CL1:COM) +4.6% to $60.46/bbl, rising back above its 50-day moving average, and May Brent (CO1:COM) +4.4% to $63.49/bbl.Among notable movers in the sector: [[FANG]] +5.8%, [[NBR]] +5.4%, [[DVN]] +4.6%, [[MRO]] +4.5%, [[XEC]] +4.2%, [[RIG]] +4.2%, [[OKE]] +3.7%, [[FTI]] +3.7%, [[APA]] +3.4%, [[COP]] +3%, [[OXY]] +3%, [[KMI]] +3%.ETFs: [[USO]], [[XLE]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[ERX]], [[BGR]], [[BNO]]The container ship has been partially refloated and traffic along the route is expected to resume soon, marine agent GAC says.Ten tankers carrying 13M barrels of crude could be affected by the Suez blockage, according to oil analytics firm Vortexa."The transit point is key for a number of commodities, and particularly crude," ClipperData's Matt Smith says, but

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Oil prices rebound but Suez Canal blockage could ease soon