Oil prices increased on Friday due to concerns over supply, driven by reports that the US is preparing to seize additional Venezuelan oil tankers.
International benchmark Brent crude was trading at $61.46 per barrel at 9.45 a.m. local time (0645 GMT), up around 0.2% from the previous close of $61.35.
US benchmark West Texas Intermediate (WTI) also increased by about 0.2% to $57.80, compared to $57.67 in the prior session.
US President Donald Trump reiterated that, in addition to operations carried out in the Caribbean to end what he claims is drug trafficking coming from Venezuela, they will "soon begin land-based operations."
White House spokesperson Karoline Leavitt previously said a tanker seized off the coast of Venezuela had been confiscated on the grounds that it was carrying oil for Iran's Islamic Revolutionary Guard Corps (IRGC), which is under US sanctions.
Meanwhile, optimism surrounding diplomatic efforts aimed at ending the Russia-Ukraine war is limiting the upward movement in prices.
Ukrainian President Volodymyr Zelenskyy said they were working with European allies on a peace plan and intended to present the proposal to the US side soon.
Responding to a question on whether Washington would join talks scheduled for this weekend that will bring together European and Ukrainian negotiators, Trump said the issue was still under evaluation.
A potential peace agreement between Russia and Ukraine is expected to increase global supply of Russian oil, which is subject to Western sanctions.
By Humeyra Ayaz
Anadolu Agency
energy@aa.com.tr