WASHINGTON (dpa-AFX) - Oil prices traded higher on Thursday as Ukrainian attacks on Russia's oil infrastructure signaled potential supply constraints.
Benchmark Brent crude futures rose half a percent to $62.96 a barrel, while WTI crude futures were up 0.6 percent at $59.33.
Russia-Ukraine tensions escalated after U.S. proposed peace talks failed to deliver a breakthrough.
Amid rising tensions in the Black Sea, Russian President Vladimir Putin has warned that Moscow may consider striking vessels belonging to countries supporting Ukraine if the recent attacks on Russia's tanker fleet continues.
Reuters said quoting sources that Ukraine hit the Druzhba oil pipeline in Russia's central Tambov region. This is the fifth attack on the pipeline that sends Russian oil to Hungary and Slovakia.
Despite the attack, Slovak pipeline operator and Hungarian energy company MOL said that supplies were moving through the pipeline as normal.
Ukraine peace talks were also in focus despite inconclusive talks in Moscow. U.S. special envoy Steve Witkoff will meet the head of Ukraine's national security council, Rustem Umerov, for talks in Miami today, the White House has confirmed.
U.S. President Donald Trump said the talks - also attended by his son-in-law Jared Kushner - were 'reasonably good', but it was too soon to say what would happen because 'it does take two to tango.'
Elsewhere, Venezuelan President Nicolas Maduro confirmed that he had a 'respectful and cordial' conversation with Trump about 10 days ago and that steps were being taken toward a respectful dialogue between the two countries.
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