Oil prices settled higher on Monday as fresh U.S. sanctions on Iran and a commitment to compensate for overproduction by Iraq added to concerns of near-term supply tightness, helping the market recover some of Friday's steep losses.

Crude oil prices hold steady at $70.45 as Ukraine peace talks progress and Iraq readies 185,000 bpd exports. Bearish outlook as supply risks rise.

The United States voted against a Ukrainian resolution, backed by most of Europe, demanding Russian withdrawal from Ukraine — a deep fissure between allies, and a sharp shift in American policy.

Asharq Al Awsat *Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq.Brent futures were up 13 cents,

Donald Trump apparently feels entitled to Ukrainian natural resources. Volodymyr Zelenskyy doesn't quite see it the same way.

Iraq is waiting for Turkey's approval to restart the oil flows from the Kurdistan Regional Government (KRG), the Iraqi Oil Minister Hayan

Fundamentals are also expected to negatively impact oil prices as resumption of oil exports from northern Iraq and growing prospects of an end of the war in Ukraine, would provide further pressure on increased supply and decrease in geopolitical risks.

Iraq’s foreign ministry on Tuesday welcomed Saudi Arabia’s hosting of talks between the United States and Russia regarding the ongoing Ukraine war.

The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum,

As a share of their output, the Baltic and Nordic states stand out (see chart 5). Estonia and Denmark, for example, have committed more than 2% of their pre-war GDP to supporting Ukraine in bilateral aid.

MPs from across the main parties told POLITICO they think parliament should be involved in any decision to deploy peacekeeping troops on the ground in Ukraine — after the prime minister made clear he is "ready and willing" to put personnel from the United Kingdom in harm's way.

Brent futures were up 13 cents at $74.56 barrel by 1103 GMT, while U.S. West Texas Intermediate crude futures added 11 cents to $70.51