Oil price grew above $72 per barrel level after Saudi Arabia announced that it will take countermeasures, if any sanctions will be applied in regards to disappeared Saudi journalists, Bloomberg reports.

Futures in New York gained 1,9% after showing biggest weekly losses since May of this year.

Oil already lost more than 5% of its value after it reached four-year high level this month amid pessimistic forecasts in regards to demand and general downturn in the market that made investors turn away from riskier assets, including commodities. However, traders are still not sure whether OPEC and its partners will be able to substitute losses of Iranian oil after introduction of US sanctions.

WTI oil grew to $72,70 per barrel. Last week it lost 4%. Brent oil gained 1,9% and traded for $80,43 per barrel. Last week it lost 4,4%.

US sanction against Saudi Arabia’s oil may result in market’s chaos and price strike to $200 per barrel and higher, analytics assumes. But such measures are not discussed yet.