Oil jumps more than 4% on concern over more sanctions on Russia

LONDON: Oil prices rallied more than 4% on Friday to reach their highest levels since October as traders focused on potential supply disruptions from more sanctions on Russia.

Brent crude futures gained $3.50, or 4.6%, to $80.42 a barrel by 1422 GMT, reaching $80 a barrel for the first time since Oct.7. U.S. West Texas Intermediate crude futures advanced $3.57, or 4.8%, to $77.49.

The United…