Oil pushes higher as U.S. Treasury announces sanctions on Iran

By Libby George and David Gaffen LONDON/NEW YORK (Reuters) - Oil prices jumped on Friday after the United States on Friday imposed sanctions on some Iranian individuals and entities, days after the White House put Tehran "on notice" over a ballistic missile test. Front month U.S. West Texas Intermediate crude futures climbed 24 cents to $53.78, after closing 34 cents down on Thursday, as of 12:22 p.m. ET (1722 GMT). Volume in U.S. crude futures was relatively low on Friday, with about 335,000 co