West Texas Intermediate crude extended gains during early European trading on Tuesday.
The US oil benchmark was trading near fifty seven dollars eighty five cents a barrel.
Prices continued to firm amid heightened geopolitical uncertainty surrounding the Ukraine conflict.
Recent diplomatic efforts failed to deliver a clear breakthrough toward ending the war.
United States President Donald Trump said talks with Ukraine’s leadership showed progress.
Trump added that no agreement had been reached on territorial issues.
He indicated negotiations could still take several weeks to conclude.
Market participants viewed the lack of progress as supportive for crude prices.
Russia accused Ukraine of carrying out a drone strike on a presidential residence.
Moscow said the alleged incident could alter its position on peace negotiations.
Ukraine denied responsibility for the drone attack.
Ukraine’s foreign minister said Russia was seeking false justification for further strikes.
The renewed exchange of accusations dented hopes for a near-term ceasefire.