Oil prices rose on Wednesday due to concerns about oil supply disruptions in the US and Russia, as well as uncertainty surrounding the Ukraine peace talks. Brent crude futures and US West Texas Intermediate crude futures both saw slight gains. The market is also speculating that OPEC+ may delay its planned supply increase in April. Cold weather in the US and a Ukrainian drone attack on a Russian oil pumping station have further contributed to supply worries. Analysts believe that a potential peace deal in Ukraine and easing of sanctions on Russia are unlikely to significantly increase Russian oil flows.