Crude Higher As Saudi Suspends Crude Cargoes & Loadings at Yanbu

WTI crude is up +2.85%, reversing higher around the cash open and surpassing overnight highs. News broke that Saudi Arabia has informed its European customers that late-September crude oil cargoes will be cancelled, due to the East-West pipeline being shut after last week’s attacks and Yemen’s Houthis taking over the entire Red Sea coast, per…