By Anjana Anil

(Reuters) -Oil prices edged down on Tuesday after surging nearly 2% in the previous session, as traders kept a close watch on developments in the Russia-Ukraine conflict for the potential impact on fuel supplies from the region.

Brent crude futures fell 16 cents, or 0.23%, to $68.64 per barrel at 0005 GMT, while West Texas Intermediate (WTI) crude futures also lost 16 cents, or 0.25%, to $64.64.

Both contracts rose to their highest in over two weeks on Monday, with WTI futures climbing above the 100-day moving average.

“The risks for crude oil prices appear tilted toward further gains, particularly if the price sustains a move above the $64–$65 resistance level,” IG analysts said in a note.

Oil’s rally on Monday was primarily driven by concerns of supply disruptions as

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