Oil prices are up nearly $3 after a report said oil loadings at Saudi Arabia’s Red Sea port of Yanbu have been suspended, and Libya halted operations at three oil fields, heightening concerns that disruptions to key oil supply routes could persist for weeks, Reuters reports.
Brent crude futures were up $2.81, or 2.66 per cent, at $108.49 a barrel at 1506 GMT (8:06pm PKT), while US West Texas Intermediate futures were up $3.29 at $104.68 a barrel.
