Brent crude futures jumped more than 5% on Thursday and are heading for their biggest weekly rise since early June

Oil prices surged on Thursday following the US announcement of sanctions on Russian oil majors Rosneft and Lukoil.

Global benchmark Brent crude futures up over 5% to $65.99 a barrel, while US West Texas Intermediate (WTI) rose 5.6% to $61.79 on Thursday.

While prices dipp

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