I use a plugin that makes it really easy. I found it in the WP Plugins listing but this is the link I have at the ready. Go to https://www.viper007bond.com/wordpress-plugins/vipers-video-quicktags/
The plugin is very easy to use, download, unpack, upload to your plugins directory, and activate.
There’s options in your Admin section that lets you toggle what types of video you want to use. Youtube is an option. Plus there’s some options you can choose for size and whatnot.
When you want to include a video in your post you write a post like normal. Then you click the button (it shows in your toolbar right above where you write your post) for Youtube and paste in the URL to the Youtube video. The plugin does the rest.
This may not be the solution you wanted but it will let you share Youtube vids on your blog. You can see it in action on my blog at https://wargamingforums.com/2008/01/19/warhammer-40k-apocalypse-megabattle-at-battleground-2008-video/