Ammon News - Oil prices firmed on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to global markets, though weak fundamentals kept gains limited.

Brent crude rose 41 cents, or 0.65%, to $63.08 at 0659 GMT, while U.S. West Texas Intermediate rose 45 cents, or 0.76%, to $59.40.

Ukraine hit the Druzhba oil pipeline in Russia's central Tambov region, a Ukrainian military intelligence source said on Wednesday, the fifth attack on the pipeline that sends Russian oil to Hungary and Slovakia. The pipeline operator and Hungary's oil and gas company later said supplies were moving through the pipeline as normal.

Fitch Ratings on Thursday cut its 2025-2027 oil price assumptions to reflect market oversupply and production growth that is expected to outstrip demand.

Reuters