Shares of energy companies rose as oil futures spiked due to new U.S. sanctions on the Russian oil industry. Benchmark U.S. crude futures jumped almost 4% to top $76.57 a barrel, testing the $77 level for the first time since early October as icy weather in Texas threatened domestic supply,

The new sanctions target "Russia's key source of revenue" for funding its war against Ukraine, Treasury Secretary Yellen said.

The Biden administration announced new sanctions against Venezuelan President Nicolás Maduro and other government officials on Friday — marking its anger with Caracas minutes after Maduro was sworn into office for a third term following an election the U.