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Brent crude surges more than $3 on reported Yanbu loading halt

  • Yanbu port reportedly halted crude loading operations in Saudi Arabia.
  • Brent crude and U.S. oil futures each climbed more than $3.
  • Yanbu is a major Saudi crude-export hub on the Red Sea.

Brent crude and U.S. oil futures each rose more than $3 after reports that crude loading operations had been suspended at Saudi Arabia's Yanbu port on the Red Sea. Yanbu is one of Saudi Arabia's main hubs for exporting crude through the Red Sea. Walter Bloomberg, citing Reuters, reported the development on September 15, intensifying market concerns about a possible interruption to supply.

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Brent crude surges more than $3 on reported Yanbu loading halt - CoinPost Terminal