Oil Inches Higher But Ukraine Talks, Oversupply Concerns Cap Gains

LIVEDow Set to Open Up Ahead of Jobs DataLast Updated: 1 hour agoOil Inches Higher But Ukraine Talks, Oversupply Concerns Cap GainsByGiulia Petroni, Dow Jones NewswiresOil prices edged higher in early trading, though gains are capped by diplomatic efforts to end the war in Ukraine and concerns of an oversupplied market.Brent crude was up 0.1% to $61.19 a barrel, while WTI rose 0.2% to $57.33 a barrel, supported by growing tensions between Washington and Venezuela and positive data on oil demand and refinery activity in China.Despite the uptick, both benchmarks continued to hold near their lowest level since late October.