2021 Suez Canal incident
Michael Lynch, president of Strategic Energy & Economic Research, made a point that a rise in oil prices was caused by other people buying large amounts of oil while prices were low and then selling off oil at higher prices while oil was in shortage: "people buying in after recent declines in oil prices, with the Suez closing the trigger factor". James Williams, energy economist at WTRG Economics said that due to existing stocks "a few days of slowdown in [oil] delivery is not critical to the market." After the Ever Green was freed on 29 March 2021, the oil prices dropped again.