Brent crude oil futures rose 0.9% to settle at $67 a barrel on Friday, booking a 2.3% gain on the week, driven by renewed concerns over Russian crude supply that outweighed worries about oversupply and weaker US demand. The Kremlin announced a pause in peace talks with Ukraine, raising the risk of further Western sanctions, while a drone attack on Russia’s Primorsk port temporarily halted oil loading operations. Earlier losses on Thursday followed the IEA’s report predicting faster-than-expected oil supply growth due to OPEC+ output increases, with Saudi Arabia also set to boost shipments to China. In the US, rising consumer prices and higher jobless claims fueled expectations of an upcoming Fed rate cut, potentially boosting oil demand. Meanwhile, US crude inventories rose by 3.9 million barrels last week, highlighting ongoing balance concerns in the market.