Ammon News - Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv stop attacking each other's energy infrastructure temporarily, which could lead to more Russian oil entering global markets.

Brent crude futures fell 23 cents, or 0.3%, to $70.33 a barrel by 0730 GMT. U.S. West Texas Intermediate crude (WTI) was down 25 cents, or 0.4%, at $66.65.

Russian President Vladimir Putin agreed on Tuesday to stop attacking Ukrainian energy facilities but stopped short of endorsing a full 30-day ceasefire that Trump hoped for.

A potential ceasefire could lead to an easing of sanctions, which might raise oil supply and ease prices, analysts said.

U.S. crude oil stocks data, meanwhile, painted a mixed picture, with crude stocks rising while fuel inventories fell.

Crude stocks were up 4.59 million barrels in the week ended March 14, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories fell by 1.71 million barrels and distillate stocks were down 2.15 million barrels, they said. Reuters