Oil price today rose as supply concerns and geopolitical tensions impacted markets. Brent crude reached $62.21 per barrel, while WTI hit $58.12. Optimism over US–China trade talks and US strategic petroleum reserve refills also supported prices.

The ASX has zig-zagged on Friday after energy stocks continued to lift as oil prices have risen again. The index rose almost 0.3 per cent before diving and sits down about 0.1 per cent after the first two hours of trading.

Oil prices surged more than 5% on Thursday after Washington imposed sanctions on major Russian companies over the Ukraine war, while major stock indexes climbed as gains in U. and European energy shares helped to offset some lackluster earnings news.

Oil and natural gas remain volatile, with crude oil rebounding on trade summit hopes while bearish technical patterns and geopolitical uncertainty continue to pressure prices across energy markets.

Asian shares rallied on Friday as Wall Street earnings and signs of a thaw in U.S.-China relations boosted investor sentiment, while oil prices eased following fresh U.S. sanctions on Russian suppliers.

Stocks are drifting on Wall Street, and oil prices are jumping after President Donald Trump announced “massive” new sanctions on Russia’s crude industry. The S&P 500 rose 0.1% in the early going Thursday.

Oil and natural gas rose as U.S. sanctions on Russian firms fueled supply concerns, with WTI rebounding, gas eyeing a breakout, and US dollar holding range.

U.S. and world stocks rose on Thursday, boosted by a cooling in U.S.-China trade tensions, while oil prices rocketed 5% after Washington sanctioned two Russian oil giants, raising concern about global supply.

US stocks advanced on Thursday, supported by gains in energy and technology, as investors looked ahead to key inflation data. The S&P 500 rose 0.4% at midda

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Oil prices surged about 5% on Thursday after Washington imposed sanctions on major Russian companies over the Ukraine war, while major stock indexes edged higher as gains in U. and European energy shares helped to offset some lackluster earnings news.