Brent crude futures jumped more than 5% on Thursday and are heading for their biggest weekly rise since early June
Oil prices rose sharply on Thursday following the US announcement of sanctions on Russian majors Rosneft and Lukoil.
Global benchmark Brent crude futures were up over 5% to $65.99 a barrel, while US West Texas Intermediate (WTI) rose 5.6% to $61.79 on Thursday.
While prices dipped slightly in early trading on Friday, both benchmarks remained on track for a 7% weekly rise – the biggest since early June.
The White House described the latest sanctions as a step to “encourage Moscow to agree to a ceasefire.” Russia says it remains open…
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