BP PLC (LSE:NYSE:BP (LON:BP).) and Shell PLC (LSE:LON:SHEL, NYSE:SHEL) shares ticked up on Friday in line with a surge in oil prices on fears around new US sanctions against Russia.
Shares in the heavyweights climbed by 1.9% and 1.3% respectively to sit among the day's FTSE 100 risers.
Benchmark Brent crude had climbed as high as US$80.70 a barrel on Friday, to match levels last seen in October, before scaling back to US$79.76.
Oil was up 4.1% for the week as a result, having sat at the US$76.63 on Monday morning.
Upward pressure has been fuelled by fears around the US imposing some of its harshest sanctions against the Russian oil industry to date, according to Reuters.
Sanctions were set to target 180 vessels, dozens of traders, two major oil companies and top Russian oil executives, a document, cited by Reuters, said.
The move would also come as stockpiles remain low and Europe grapples with a cold snap.
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