Oil prices rose on Wednesday trimming losses from the previous day, as the focus turned back to potential supply disruptions from sanctions on Russian tankers, though gains were capped as the market awaited more clarity on their impact.

Oil prices continued their rise this morning following a harsh batch of sanctions by the US on Russian Oil and tankers. Click to read.

Oil futures were up strongly Monday, with Brent crude on track for its first finish above $80 a barrel since August, as investors assess the potential hit to supply from a further tightening of U.S. sanctions on Russia’s oil sector.