Oil prices on Friday rose almost 4% after the U.S. tightened sanctions against Russian crude exports.
Oil prices on Friday rose almost 4% after the U.S. tightened sanctions against Russian crude exports, exacerbating supply concerns in an already tightly balanced energy market.on two shipping companies that it said violated the G7's oil price cap, a mechanism designed to retain Russian flows in the market while curbing the Kremlin's war chest.
"This action underscores the Treasury Department's commitment with its international partners to responsibly reducing Russian government oil profits and constraining the Russian war machine," the U.S. Department of the Treasury said in a statement.
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