Egypt foiled a terrorist attack on a ship in the Suez Canal on Saturday and has increased security to protect ships and oil tankers. Authorities did not reveal details of the attempted attack except to say it was flying under the Panama flag and was a container vessel.
“The attempt failed completely and there was no damage to the ship or the containers it carried. The situation was dealt with strictly by the armed forces,” said Suez Canal Authority director Mohab Memish
The expectation of an American attack on Syria drove up the price of crude oil last week to $112 a barrel, the highest in five years, before it settled back to a nearly three-year high of $108.