Oil jumps as Yanbu loadings pause and Libyan fields halt production

Oil prices rose by more than $3 on September 15 as supply disruptions widened. Reuters reported Brent up 3.3% at $109.20 a barrel and U.S. WTI up 5.01% at $106.46. These were intraday market prices and may change quickly.

Two shipping-industry sources told Reuters that crude loadings at Saudi Arabia’s Red Sea port of Yanbu had been suspended and some Europe-bound cargoes cancelled. Saudi Aramco did not publicly comment on the scope or timing. N Globe therefore identifies this as industry reporting corroborated by a reliable outlet, not a complete officially confirmed Saudi schedule.

Saudi Arabia shut its East–West pipeline as a precaution after a drone attack originating from the direction of Iraq. The line normally helps move crude to Red Sea export terminals while bypassing the Strait of Hormuz; a prolonged outage would reduce the market’s alternative transport capacity.

Libya’s National Oil Corporation said Petroleum Facilities Guard protests closed the Hamada–Zawiya pipeline and halted the Hamada, Tahara and NC5 fields. It warned that force majeure could follow if the disruption continued, providing primary-source confirmation for the Libyan part of the supply loss.

For Canada, higher oil prices can support some producers but households may first feel higher gasoline, diesel, aviation, freight and food costs. Travellers, transportation businesses and variable-rate borrowers should watch whether energy costs raise inflation and interest-rate expectations.