Brent crude edged up on Wednesday as geopolitical tensions in Europe and the Middle East raised supply concerns while investors locked in profits ahead of updates from the U.S. Federal Reserve and U.S. oil inventory data.
Oil prices hit seven-year highs last week on worries that supplies could tighten due to Ukraine-Russia tensions.
U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades Ukraine, while Western leaders stepped up military preparations and made plans to shield Europe from a potential energy supply shock.
