Crude oil futures were up by about $1 near midday Friday after the U.K. government outlined a new package of sanctions targeting ships carrying Russian oil.
The NYMEX October West Texas Intermediate contract was up by 90cts to $63.25/bbl at about 11:45 a.m. ET and the November WTI contract was 85cts higher at $62.95/bbl.
The ICE November Brent contract was up $1.10 to $64.45/bbl and December Brent was trading $1 higher at $67/bbl.
Both oil benchmarks settled Thursday off by more than $1 after the International Energy Agency raised its projected oil surpluses for the rest of this year and in 2026.
Still, both front-month contracts are on track to close out the week up by $1 to $2.
The NYMEX October RBOB contract was trading 2.2cts higher at $2.001/gal and November RBOB was up 2cts to $1.944/gal. The October ULSD contract was 2.55cts higher at $2.3075/gal and November ULSD was up by 2.45cts to $2.3015/gal.
The U.K. government on Friday said it had introduced 100 new sanctions designed to reduce Russia’s revenue sources, following Russian drone incursions in Poland and damage to the Cabinet of Ministers building in Kyiv.
In addition, oil futures found some support from reports of a drone attack on Primorsk, one of Russia’s largest oil and product export terminals.
In U.S. cash refined product markets, Los Angeles CARBOB prices jumped 11cts in midday trade, while most other cash products mirrored movements in NYMEX futures.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
–Reporting by Frank Tang, ftang@opisnet.com; Editing by Jeff Barber, jbarber@opisnet.com
(END) Dow Jones Newswires
09-12-25 1256ET