Oil surges as US sanctions hit Russian producers Rosneft and Lukoil

US sanctions targeting Russia's top oil producers Rosneft and Lukoil initially spiked crude prices, with WTI climbing $4.64 weekly to $61.79—the strongest close since October. Traders now question long-term supply impact, as Europe's diesel crack spreads firm on potential shortages. Expect continued volatility in crude and energy indices.