Here We Go: Suez Canal Workers Go On Strike

Tyler Durden's picture

And here we go:

Suez Canal Company workers from the cities of Suez, Port Said, and
Ismailia began an open-ended sit in today. Disruptions to shipping
movements, as well as disasterous econmic losses, are expected if the
strike continues. Over 6000 protesters have agreed that they will not go
home today once their shift is over and will continue their in front of
the company's headquarters until their demands are met. They are
protesting against poor wages and deteriorating health and working
conditions.

And just to make sure that there is complete confusion, here's Bloomberg with an earlier comment:

Egypt’s Suez Canal shipping traffic is operating normally, Mohamed Motair, director of companies at the Suez Canal Authority, said by telephone today.

Update from Reuters:

According to a senior canal official, Egypt's Suez Canal operating normally, strikes by companies owned by Suez Authority are not involved in Canal operations

Keep an eye on oil, which jumped on the news:

Source: AhramOnline