Crude futures are also drawing support from Russian oil and gas condensate production falling to below 10-million bpd, its lowest since July 2020
London — Oil prices edged higher on Wednesday after Moscow said that peace talks with Ukraine had hit a dead end, fuelling supply worries, while weak economic data from China and Japan kept a lid on gains.
Russian President Vladimir Putin on Tuesday blamed Ukraine for derailing peace talks and said Moscow would not let up on what it calls a “special operation” to disarm its neighbour. Western sanctions against Russia and logistical constraints have hampered trade, people familiar with the data said on Tuesday.
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