Brent crude futures climbed above $72 per barrel on Friday, on track for their strongest week since early January. Supply concerns were driven by new U.S. sanctions on Iran and OPEC+ plans for output cuts. On Thursday, the U.S. Treasury imposed fresh Iran-related sanctions, including its first targeting of a Chinese refiner. This marked the fourth round since February when President Trump pledged to reimpose "maximum pressure" to curb Iran’s oil exports to zero.
