Oil futures rose on Friday, as traders weighed ongoing worries about global energy supplies against a move by the U.S. to boost pressure on Russia to halt its assault on Ukraine. The U.S. and its international partners will move to revoke Russia’s trade status, which would lead to higher tariffs on Russian goods. West Texas Intermediate crude for April delivery rose $3.31, or 3.1%, to settle at $109.33 a barrel on the New York Mercantile Exchange. For the week, however, prices based on the front-month contract lost roughly 5.5%, according to FactSet data.
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