By 0052 GMT, Brent crude futures rose 36 cents, or 0.4 percent, to $86.36 per barrel. US West Texas Intermediate crude also rose 53 cents, or 0.6 percent, to $83.44 per barrel.
Brent crude is heading for weekly gains of 2.1 percent, and West Texas Intermediate crude is heading for a 0.8 percent rise this week, after both crude oils rose sharply, Monday, due to the possibility of disruption to exports from the Middle East after the Hamas attack on Israel over the weekend threatened to expand… Scope of conflict.
Prices fell during the week, but on Thursday, the United States imposed the first sanctions on the owners of tankers carrying Russian oil whose price exceeds the price ceiling set by the Group of Seven at $60 per barrel, which it imposed with the aim of filling gaps in the mechanism designed to punish Moscow for its war in Ukraine.
Russia is the world’s second-largest oil producer and a major exporter, and heightened US scrutiny of its shipments may reduce supplies.
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