Oil prices rose, today, Friday, after the United States tightened the sanctions program on Russian crude exports, raising concerns about supplies in an already scarce market, and global inventories are expected to decline during the fourth quarter.

Brent crude futures rose 36 cents, or 0.4%, to $86.36 per barrel, and US West Texas Intermediate crude rose 53 cents, or 0.6%, to $83.44 per barrel.

Brent crude is heading to achieve weekly gains of 2.1%, and West Texas Intermediate crude is heading to rise 0.8% this week, after both crude oils rose sharply on Monday due to the possibility of disruption of exports from the Middle East as a result of the attacks launched by the Zionist entity’s army on the Gaza Strip.

Prices fell during the week, but yesterday the United States imposed the first sanctions on the owners of tankers carrying Russian oil whose price exceeds the price ceiling set by the G7 at $60 per barrel.

Russia is the world's second-largest oil producer and a major exporter, and heightened US scrutiny of its shipments may reduce supplies.

Source: National Iraqi News Agency