Oil sizzles to 3-month high, US imposes tougher sanctions on Russian crude

Oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue.

Brent crude futures settled at $79.76 a barrel, up $2.84, or 3.7%, after crossing $80 a barrel for the first time since Oct.7. U.S.

WTI crude futures rose $2.65, or 3.6%, to settle at $76.57 per barrel.