Oil Prices Hold Steady Amid Russia-Ukraine Tensions

Oil prices held steady above $83 a barrel on Friday as tensions between Russia and Ukraine escalated, shifting market attention towards potential disruptions to Russian energy supplies.

Russian President Vladimir Putin indicated that talks with Ukraine had produced no results, and Moscow was preparing to intensify its military campaign, reports said. The escalation comes as Ukrainian strikes continue to disrupt Russia's energy infrastructure, raising concerns about the country's ability to export crude and refined petroleum products.

Brent crude also remained above $89 a barrel on Friday after recovering in the previous session. Despite renewed supply concerns, both benchmarks were on track to end the week lower as traders weighed signs of diplomatic progress in the Middle East against potential tighter Russian supplies.