New Delhi: Oil prices inched up on Thursday as traders closely monitored the approaching deadline for United States sanctions on major Russian energy companies. The modest rise came after a sharp fall a day earlier, with concerns about future oversupply still weighing on the market.

Brent crude moved up to around 63 dollars a barrel, while West Texas Intermediate traded near 59 dollars. Analysts said the slight increase followed new data showing a larger than expected drop in US crude inventories. Stocks fell by more than three million barrels last week, offering some support to prices.

However, broader worries continue to limit gains. Reports of renewed diplomatic efforts by the United States to push for an end to the Russia Ukraine war have raised expectations that restrictions on Ru

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