Oil prices edged down on Tuesday after surging nearly 2% in the previous session, as traders kept a close watch on developments in the Russia-Ukraine conflict for the potential impact on fuel supplies from the region.

Ukraine launched a drone attack on Russia on Sunday, forcing a sharp fall in the capacity of a reactor at one of Russia's biggest nuclear power plants and sparking a huge blaze at the major Ust-Luga fuel export terminal,

Russia accused Ukraine on Sunday of launching drone attacks that sparked a fire at a nuclear power plant in its western Kursk region overnight, as Ukraine celebrated 34 years since its independence.