Oil prices edged up about 1 per cent to a one-week high on Wednesday as traders expected a lack of progress on a Ukraine peace deal to keep sanctions in place against Moscow, while a weekly report showed growing U.S. oil consumption.
Brent crude futures rose 80 cents, or 1.2 per cent, to settle at $66.25 a barrel. U.S. West Texas Intermediate (WTI) crude rose 82 cents, or 1.3 per cent, to settle at $62.55.