U.S. crude oil tops $105 as Saudi Arabia said to cancel some European cargoes

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U.S. crude oil tops $105 as Saudi Arabia said to cancel some European cargoes

Sep 15, 2026, 7:45 PM ETUnited States Oil Fund LP ETF (USO), UCO, CL1:COM, CO1:COM, XLEDBO, UNG, FCG, USL, SCO, UNL, BNO, BOIL, KOLD, GUSH, DRIP, ARMCO, USOI, HO1:COM, NG1:COM, XB1:COMBy : Carl Surran, SA News Editor

U.S. crude oil futures climbed above $105/bbl Tuesday, rising for the 10th time in the past 11 trading sessions, as Saudi Arabia reportedly canceled or deferred shipments to some European refiners that were scheduled to load in late September.

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Quick Insights

U.S. crude prices surged as European refiners shifted to U.S. supplies due to Saudi shipment cancellations.

Oil infrastructure attacks escalated risks, possibly pushing Brent above $120/bbl if output stays lower.

Rising China crude imports and little new non-OPEC+ supply reduce market buffers against disruptions.

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