Doha: Oil prices slipped at settlement today as traders weighed risks from Ukrainian drone strikes on Russian energy sites and rising tensions between the United States and Venezuela. Brent crude futures fell 72 cents, or 1.14 percent, to close at $62.45 a barrel. US crude futures dropped 68 cents, or 1.15 percent, to $58.64 a barrel.

According to Qatar News Agency, the market is closely monitoring geopolitical developments that could impact supply chains. The conflict in Eastern Europe and the diplomatic strain between the US and Venezuela are significant factors influencing current trading behavior. Traders are particularly concerned about how these issues might disrupt oil production and distribution.