Oil rises 2% on Russian supply worries

Oil prices rose 2% on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season.

Brent crude was up by $1.40, or 1.70%, to $82.38 a barrel at 1044 GMT, while U.S. West Texas Intermediate (WTI) crude was at $78.98 a barrel, up $1.49, or nearly 2 % higher.

Both contracts were on track to post a second weekly gain.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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