Oil prices rose over 2% on Friday as investors weighed a tight short-term market against the potential surplus this year forecast by the IEA, while U.S. tariffs and possible further sanctions on Russia were also in focus.

The US is imposing sanctions against a senior UN official focused on the human rights of Palestinians, US Secretary of State Marco Rubio announced Wednesday.

The European Union "deeply regrets" the U.S. decision to impose sanctions on Francesca Albanese, the UN Special Rapporteur on human rights in the occupied Palestinian territories, an EU spokesperson said on Friday.

Despite sanctions and pressure from the West, Russia continues to push on with its war effort in Ukraine. Tough language by the US President Donald Trump has had little effect on the outlook of the Russian president,

The State Department confirmed sanctions were imposed on UN official Francesca Albanese over efforts targeting U.S. and Israeli officials through the ICC.

President Donald Trump’s desire to have unchecked authority over the next wave of Russia sanctions could throw a wrench in the Senate’s hopes of passing a bipartisan sanctions bill before August recess.

(Reuters) -Ukrainian President Volodymyr Zelenskiy said he had discussed improved air defences and intensified sanctions against Russia with two U.S. lawmakers who are backing a bill to impose tougher punitive measures against Moscow.