Oil futures ended sharply higher on Friday, as fresh U.S. sanctions on Russia’s oil sector looked to threaten global supplies and as winter storms in the U.S. were expected to boost demand for heating fuels.

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.

Zelenskiy, writing later on X, expressed thanks for British sanctions imposed on Russian oil companies, saying that London "delivers yet another significant disruption to (Russian