NEW YORK: Oil prices rose by over $3 on Tuesday after shipping industry sources said oil loadings at Saudi Arabia`s Red Sea port of Yanbu had been suspended, and Libya halted operations at three oil fields, heightening concerns that disruptions to key oil supply routes could persist for weeks.

Brent crude futures were up $3.49, or 3.3 per cent, at $109.20 a barrel at 1:20 p.m. ET (1720 GMT), while US West Texas Intermediate futures rose $5.08, or 5.01pc, to $106.46 a barrel.

If gains hold, both contracts are on track for their highest close in nearly four months.-Reuters