Oil surpassed $80 a barrel as traders digested a report that Indian oil processors are bracing for new US sanctions that would hit flows from Russia.

On Friday, crude oil futures rose to price levels last seen in October 2024. What are the reasons behind the uptick in prices and will the rally last?

Oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue. President Joe Biden's administration imposed fresh sanctions targeting Russian oil producers,

The U.S. Treasury Department is sanctioning Russian oil companies, tankers, officials and executives. Oil prices jumped on worries that crude supplies would face disruptions. Oil prices jumped on Friday as the U.

Oil prices rallied more than 4% on Friday to reach their highest levels since October as traders focused on potential supply disruptions from more sanctions on Russia. Brent crude futures gained $3.50,