Oil Prices Rise Slightly Amid Ukraine-Russia Peace Deal Talks

Oil prices slightly increased following a recent drop as traders monitor Ukraine's progress towards a peace deal with Russia, potentially leading to the lifting of Western sanctions on Russian crude. Ukrainian President Volodymyr Zelenskii is preparing to advance a framework to address unresolved issues.

The market remains cautious as traders await clearer signals from diplomatic talks between U.S. President Donald Trump, Russian President Vladimir Putin, and Ukrainian officials.

Additionally, recent tightening of sanctions by the U.S., Britain, and the European Union on Moscow has impacted Russian oil imports to key buyers like India.