Oil resumed gains as investors weighed the implications of a massive container ship still stuck in the Suez Canal after a volatile few days that that saw prices swing wildly around $60 a barrel. Futures in New York climbed 2% on Friday after dropping 4.3% in the previous session. The blockage has led to rising shipping rates and a gridlock of vessels waiting to pass through the vital artery, with efforts to dislodge the Ever Given expected to take until at least Wednesday. Delays freeing the vessel is forcing ship-owners and traders to consider a costly alternative route around Africa. Oil is still set for a third weekly drop, the longest run of losses since April, on a bearish outlook for near-term demand. U.S. virus cases are rising again and some European countries renewed lockdowns in a setback for the recovery. Oil heading for third weekly drop on demand […]