Oil prices dip after surge, remain on track for weekly gain amid supply fears

Core Insights - U.S. crude futures have eased in early trading on Friday, following a surge from the previous day, but are still on track for a weekly gain due to ongoing supply concerns [1] Group 1: Market Reaction - The easing of U.S. crude futures indicates a correction after a significant price increase [1] - Despite the recent decline, the market is positioned for a weekly gain, reflecting underlying strength [1] Group 2: Supply Concerns - Fresh U.S. sanctions on Russia's two largest oil companies have heightened supply concerns in the market [1] - The sanctions are a direct response to the ongoing war in Ukraine, impacting global oil supply dynamics [1]