Energy markets dominated headlines Thursday as a fresh wave of U.S. sanctions targeting Russia's oil giants sparked a sharp rebound in crude prices and lifted energy shares.

On Wednesday, President Donald Trump's administration imposed sweeping restrictions on Rosneft and Lukoil, ramping up pressure on Russian President Vladimir Putin to agree to a ceasefire in Ukraine. The U.S. Treasury also warned it could impose secondary sanctions on foreign entities doing business with Russia's defense or energy sectors.

The market reaction was immediate. West Texas Intermediate crude jumped more than 5% to $62 per barrel, on pace for its strongest session since June. The Energy Select Sector SPDR Fund (NYSE:XLE) climbed 1.9%, outperforming all other S&P 500 sectors.

Despite higher oil prices, broader equity sentiment remained positive. By midday in New York, the S&P 500 was up 0.4% to 6,730, while the Nasdaq 100 gained 0.8% to 25,080.

In commodities, gold and silver advanced 1.6% each as investors stepped in after this week's steep declines.

Meanwhile, bond yields rose, with the 10-year Treasury up 5 basis points to 4.00% and the 30-year at 4.55%.

In crypto markets, sentiment was positive, with Bitcoin (CRYPTO: BTC) climbing 2.2%.

Thursday’s Performance In Major US Indices, ETFs

Major Indices

Price

1-day % change

Russell ...