Brent crude oil futures traded near $66 per barrel on Friday, hovering at a two-week high and on track for their strongest weekly gain since early June as fresh US sanctions on major Russian producers stoked supply concerns. Washington blacklisted state-run oil giants Rosneft and Lukoil to pressure Moscow over the war in Ukraine. The two companies account for nearly half of Russia’s oil exports and are vital to funding the Kremlin’s budget. Following the sanctions, reports indicated that Chinese state oil firms have halted seaborne Russian oil purchases, while Indian refiners plan sharp import cuts to comply with the measures. Meanwhile, the European Union imposed new sanctions targeting Russia’s energy infrastructure, as Ukrainian forces continued strikes on refineries, pipelines, and export terminals. Kyiv said it hit a Rosneft refinery on Thursday.