Oil prices jumped more than 4% on Friday to their highest since October as traders focused on potential supply disruptions from further sanctions on Russia.
Brent crude futures rose $3.50, or 4.6%, to $80.42 a barrel by 1422 GMT, hitting $80 a barrel for the first time since Oct. 7. U.S. West Texas Intermediate crude futures rose $3.57, or 4.8%, to $77.49.
The United States is set to impose some of the toughest sanctions on Russia's oil industry to date, designating 180 vessels, dozens of traders, two major oil companies and several Russian oil executives, according to a document seen by Reuters.
Source: Investing.com
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