Oil prices climb over 4% as Russia curbs fuel exports amid Ukraine attacks

Oil prices climbed on Friday, on track for a weekly gain of more than 4%, as Ukraine's attacks on Russia's energy infrastructure prompted Moscow to curb fuel exports.

Brent futures gained 89 cents, or 1.28% to $70.31 a barrel by 9:46 a.m. CDT (1446 GMT). US West Texas Intermediate (WTI) crude rose by $1.16, or 1.79% to $66.14 a barrel.

"Markets continued to be focused on the situation between Russia and Ukraine," said John Kilduff, partner with Again Captial. "These drone attacks by Ukraine are beginning to add up."

Both benchmarks are set to register their biggest increases since mid-June.

Russia will introduce a partial ban on diesel exports until the end of the year and extend an existing ban on gasoline exports, Deputy Prime Minister Alexander Novak said on Thursday.