By 0448 GMT, Brent crude futures rose 10 cents, or 0.1 percent, to $74.33 per barrel. US West Texas Intermediate crude futures rose 13 cents, or 0.2 percent, to $70.23 per barrel.
The two crude oil prices increased two percent yesterday, Thursday, and are expected to record weekly gains of more than four percent, in the best performance of its kind since late September.
Putin said on Thursday that the war is on Ukraine It turns into a global conflict after you allow it US Britain attacked Ukraine by attacking the Russian depths with weapons provided by both countries.
He added that Russia responded by launching a new type of medium-range ballistic missile at a Ukrainian military facility, warning the West that Moscow may take further measures.
Russia is among the world’s largest oil producing countries, even as production declined following an import ban linked to its invasion of Ukraine and supply restrictions imposed by the OPEC+ group.
Russia said this month that it produced about nine million barrels of crude per day.
But US crude inventory data limited gains.
Prices were affected by the rise in US crude inventories by 545 thousand barrels to 430.3 million barrels in the week ending November 15, exceeding analysts’ expectations.
Yesterday, Thursday, China announced policy measures to boost trade, including supporting imports of energy products, amid concerns about US President-elect Donald Trump’s threats to impose customs duties.
