Oil prices rose on Wednesday trimming losses from the previous day, as the focus turned back to potential supply disruptions from sanctions on Russian tankers, though gains were capped as the market awaited more clarity on their impact.

Oil prices were edging up as traders await more clarity on the effect of U.S. sanctions on Russia. Brent crude was up 0.4% at $80.22 a barrel, while WTI was up 0.5% to $76.74 a barrel. Further gains are also being capped by reports of a potentially imminent cease-fire deal between Israel and Hamas.

Upgrades to boost the capacity for oil deliveries to the Czech Republic via the TAL pipeline are complete, ending the country's need to import Russian crude, Prime Minister Petr Fiala said on Tuesday.

The Czech government says the country has boosted its energy security by completing a project to finish its dependence on oil delivery from Russia

The Czech Republic announced this Tuesday that it no longer depends on Russian oil, after the expansion of the capacity of the Transalpine Pipeline (TAL) was completed, reported Prime Minister Petr Fiala.