Oil rises 5% on fresh US sanctions against Russia

By Enes Tunagur LONDON (Reuters) -Oil prices rose 5% on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over the Ukraine war, extending gains from the previous session. Brent crude futures were up $3.39, or 5.4%, at $65.98 a barrel at 1018 GMT, while U.S. West Texas Intermediate crude futures were up $3.31, or 5.7%, at $61.81. The U.S. sanctions mean refineries in China and India, major buyers of Russian oil, will need to seek alternative suppliers to avoid exclus ...