Gobs of oil floated to the shore of Egyptian Red Sea resorts for a fifth day as the government said it had yet to discover the source of the pollution and may reduce the number of rigs operating in the nearby Gulf of Suez.
Iran, OPEC’s second-biggest oil producer, added three supertankers to its fleet of vessels storing crude, matching a similar program in 2008 that helped freight rates to triple, ship tracking data show.
Egypt plans to hold an auction for the right to use land in the Gulf of Suez to build wind-power plants with the capacity to produce 600 megawatts, the Electricity and Energy Ministry said in an e-mailed statement.
Cargo carried through the Suez Canal rose 4.1 percent to an eight-month high in April, signaling no weakness in world trade and the third-highest profit ever for A.P. Moeller-Maersk A/S, the biggest container-shipping line.