Despite the prospect of future increases in US policy rates, oil prices rose on Friday, driven by the announcement of restrictions on Russian gasoline and diesel exports.

West Texas Intermediate (WTI) oil, for delivery in November, rose 1.06% to $90.69. A barrel of Brent from the North Sea, for delivery in the same month, rose 0.88% at 94.18 dollars, around 12:20 GMT (14:20 CET). The European diesel benchmark contract, for delivery in October, fell slightly from the peak reached after the announcement of Russian restrictions, down 1.39%, to 993 dollars per ton, still close to its highest level of the year, around 12:25 GMT (14:25 CET

In response to its domestic fuel shortage that is causing prices in the country to soar, Russia introduced export restrictions on gasoline and diesel on Thursday.