Oil prices showed mixed movements on Tuesday as a maritime and energy ceasefire between Russia and Ukraine helped alleviate fears, while worries over potential U.S. tariffs on countries importing Venezuelan oil raised worries about tighter global supply.

Brent crude added 0.03%, at $73.02 per barrel while WTI dropped 0.16% to $69.

The United States secured agreements with Ukraine and Russia to suspend attacks on maritime and energy sites, with Washington agreeing to advocate for the easing of certain sanctions on Moscow.

Both Kyiv and Moscow stated they would depend on Washington to enforce the agreements, though each expressed doubts about the other side's commitment to upholding them.

Trump's warning of tariffs on countries importing oil and gas from Venezuela has sparked worries about supply shortages, with both benchmarks climbing over 1% on Monday after the announcement.

Oil is Venezuela's primary export, with China already facing U.S. import tariff being its biggest purchaser.

On Monday, the Trump administration also postponed the deadline for U.S. producer Chevron (NYSE:CVX) to cease its operations in Venezuela, extending it to May 27.

OPEC+ is expected to continue its plan to increase oil production for the second month in May, despite stable prices, while pushing some members to cut output to make up for previous overproduction, according to four sources.