Oil spikes as new sanctions target Russian exports
Energy markets react sharply to Western measures aimed at limiting Moscow’s revenue streams.
Oil infrastructure in Russia’s Far East.
Global oil prices surged on Friday after the US and EU unveiled new sanctions targeting Russian exports, prompting fears of supply disruptions.
Energy traders rushed to secure barrels ahead of the measures, sending Brent crude above the $100 mark for the first time since early summer.
Analysts warned that retaliatory steps from Moscow could tighten markets further heading into winter.
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