Oil Inches Higher But Ukraine Talks, Oversupply Concerns Cap Gains

Oil prices edged higher successful aboriginal trading, though gains are capped by diplomatic efforts to extremity the warfare successful Ukraine and concerns of an oversupplied market.

Brent crude was up 0.1% to $61.19 a barrel, portion WTI roseate 0.2% to $57.33 a barrel, supported by increasing tensions betwixt Washington and Venezuela and affirmative information connected lipid request and refinery enactment successful China.

Despite the uptick, some benchmarks continued to clasp adjacent their lowest level since precocious October.