London: Oil prices were little changed on Tuesday, after gaining in the previous session, as persistent concerns over market oversupply outweighed diplomatic efforts aimed at ending the Russian-Ukrainian conflict. Brent crude futures edged down $0.17, or 0.3%, to $63.20 a barrel, while West Texas Intermediate (WTI) futures slipped $0.12, or 0.2%, to $58.71 a barrel.

According to Qatar News Agency, both benchmarks had climbed 1.3% on Monday, as skepticism mounted over the prospects of a comprehensive peace agreement that would pave the way for an unrestricted flow of Russian crude to global markets, tempering expectations of a swift resolution to supply disruptions.