Oil prices rose on Friday after the European Union agreed to new sanctions against Russia, also underpinned by supply concerns following drone attacks on northern Iraqi oilfields and tight market fundamentals.

The United States Embassy in Iraq, in a statement: "The United States condemns the recent drone attacks throughout Iraq, including the July 14 and July 15 drone attacks on critical infrastructure at the Khurmala and Sarsang oil fields in the Iraqi Kurdistan Region."