Oil prices edged higher on persistent concerns about supply disruptions linked to ongoing sanctions against Russia. The market remained on edge as traders evaluated the long-term impact of restrictions on Russian oil exports, a key factor influencing global crude availability.
Brent crude rose 1.3%, trading at $84.65 per barrel, while WTI climbed 1.6% to $81.20, signaling continued volatility in energy markets. Russia’s role as a major exporter has kept global attention focused on sanctions’ implications, with analysts predicting further tightening in supplies if restrictions intensify.
Although demand has softened slightly in some regions, supply uncertainties are outweighing bearish pressures. Market watchers suggest that ongoing geopolitical tensions could sustain upward momentum in oil prices as the year progresses.
