Saudi Arabia Halts European Crude Shipments as Buyers Face Physical Cargoes Above $130

Reuters (Robert Harvey, 15 September 2026) reported that some European physical crude cargo alternatives jumped above $130 a barrel on Tuesday as buyers scrambled after Saudi disruptions. North Sea Forties traded at $136.75, according to LSEG, near the 13 April record of $147.37.

This is wire and market reporting on physical cargo prices and trade-source claims. It is not an official Aramco press release. Riyadh and Aramco have declined to comment on the cancellation reports.

Trade sources told Reuters that Saudi Arabia cancelled late-September Europe cargoes after drone damage to the East-West (Petroline) pipeline forced a suspension of loadings at Yanbu on the Red Sea. Euronews (Mohamed Elashi, 16 September 2026) said Argus reported at least three European refiners saw late-September cargoes cancelled or postponed, some into November. Official confirmation of specific cancelled cargo counts is still missing.

Brent futures rose over $3 toward about $110. Physical prices sit above futures in part because nearby physical delivery is sooner than the November Brent contract.

The pipeline context is already on Finpresso in the East-West outage post. The line runs about 1,200 kilometers, with about 7 million barrels a day of design capacity, as a Hormuz bypass to Yanbu. Saudi authorities ordered a precautionary shutdown after drones in the Riyadh and Medina regions.

Poland's Orlen is rushing North Sea grades (Grane, Johan Sverdrup, Johan Castberg) and farther barrels (WTI Midland, CPC Blend) as replacements, traders told Reuters. US Energy Secretary Chris Wright said the interruption would be "measured in days." Argus November delay reports sit against that shorter timeline. Treat both as live and unresolved.

Energy tape around the same week includes Brent breaking $100 and Nagel tying further ECB hikes to energy prices.

European refiners short Saudi term barrels should lock North Sea or Atlantic Basin spot cover now and treat Yanbu restart timing as unverified until Aramco or the energy ministry confirms loadings resumed.