Brent crude futures rose 1% on Friday to settle at $70.1 per barrel, marking its largest weekly gain in over three months, up more than 4%. The rally was driven by escalating geopolitical tensions, as Ukraine’s drone strikes on Russian energy infrastructure prompted Moscow to curb diesel and gasoline exports, creating supply shortages in several regions. Additional support came from mounting pressure by the US and NATO, including threats of sanctions and calls for allies to reduce purchases of Russian oil. At the same time, the resumption of Iraqi Kurdistan oil exports to Turkey is expected to gradually add 230,000–500,000 barrels per day to global markets. Stronger-than-expected US economic data and a weaker dollar also bolstered prices, easing near-term demand concerns and making commodities more attractive.