REUTERS/Ismail Zitouny
- Oil prices jumped more than 4% Friday amid rising geopolitical tensions.
- The US on Thursday sanctioned two shipping firms that it said broke the G7 oil price cap.
- Markets continue to watch how the Israel-Hamas conflict unfolds in the Middle East.
Oil prices jumped on Friday amid swirling geopolitical tensions in Europe and the Middle East.
West Texas Intermediate climbed 4.25% to $86.41 a barrel, while Brent crude, the international benchmark, jumped 4.09% to $89.52 a barrel.