Oil Tankers Flood Back Into Suez Canal As Red Sea Risk Grows

Suez Canal's revenue jumped by 42% in July from the same month last year as the number of oil tankers passing through the Egyptian gateway to the Mediterranean surged amid threats to shipping in the southern Red Sea and the Bab el-Mandeb Strait. The revenues rose to $505 million in July, according to data from Egyptian statistics agency CAPMAS cited by Bloomberg. This is well above the $355 million revenue in July 2025 and $438 million in June 2026. The number of ships that transited the Suez Canal in July 2026 soared by 27% on the year to 1,340...