Oil prices rose on Friday after U.S. President Donald Trump said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer, while tariff concern and rising OPEC+ output capped gains.

Senate sanctions bill targeting Russia's energy exports with hefty tariffs gains momentum as Trump shifts position on Russia, with Graham teasing presidential support.

Flattery and pressure — coupled with President Trump’s growing dissatisfaction with President Vladimir V. Putin — have helped build momentum for new economic punishments.