Oil prices rose nearly 3% following the breakdown of peace talks between Ukraine and Russia, raising concerns over ongoing sanctions and supply constraints on Russian oil. Brent crude increased by 2.74% to $69.15 per barrel, while WTI crude gained 2.79% to $64.05 per barrel. The situation is exacerbated by Hungary halting diesel shipments to Ukraine and seeking alternative supply routes due to the ongoing conflict.
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