Crude oil futures posted their first weekly loss in five weeks, finally falling back after a New Year rally spurred by increased Russia sanctions, winter weather demand and a two-month slide in U.S.
Pete Hegseth narrowly secured enough votes on Friday to become the next United States Defence Secretary, a move which is likely to have significant implications for Ukraine in its war against Russia.
Ukrainian drones hit a Russian oil refinery in the city of Ryazan overnight, causing a fire and damaging equipment at one of Russia's biggest refineries.