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Brent crude futures: Crude Oil Held Around $126 per barrel ,While WTI crude futures held around $121 per barrel on Tuesday after hitting a 14-year high of $139 in the previous session, as Germany indicated its reluctance to ban Russia energy imports, while South Korea said it’s unlikely to join energy sanctions.

Investors also remained watchful of possible demand destruction amid the fallout from the war in Ukraine, as higher commodity prices across the board fueled inflationary and growth concerns.

The moves came a day after oil jumped more than 10% before giving up most of the gains, after the US said it was considering a ban on Russian oil imports to up the ante on Russia’s invasion of Ukraine.

Markets were also rattled following reports of a possible delay in reviving the Iran nuclear deal after Russia demanded trade guarantees from the US.