Oil prices lost more than 1% on Tuesday after surging nearly 2% in the previous session as traders monitor developments surrounding the war in Ukraine and potential disruption to Russian fuel supplies.

Crude futures add to last week’s gains with prospects for a Russia-Ukraine peace looking uncertain and expectations that the U.S. will raise tariffs on India for buying Russian oil. “Some fear premium is still required to account for additional disrupted supply out of Russia in the coming weeks and months,