London: Oil prices have shown an uptick following escalating tensions between Ukraine and Russia, with reports surfacing of Ukraine utilizing long-range weapons against Russian targets. The developments have coincided with market apprehensions about a possible rate pause by the US Federal Reserve and the strengthening of the US dollar, both factors contributing to a limited gain in oil prices. According to Anadolu Agency, the global oil benchmark Brent crude rose by 0.12%, reaching $73.23 per barrel at 11.10 a.m. local time (0810 GMT), a slight increase from the previous session's close of $73.14. Meanwhile, the US benchmark West Texas Intermediate saw a 0.14% rise to $69.42 per barrel, compared to the prior session's close of $69.32. The geopolitical friction escalated as international media reported that the Biden administration had granted Ukraine permission to deploy long-range American weapons on Russian soil temporarily. The Russian Ministry of Defense reported that Ukraine launched an attack on the R ussian region of Braynsk with six American-made long-range tactical ATACMS missiles, which were intercepted by Russia's S-400 and "Pantsir" air defense systems. In a further development, Russian President Vladimir Putin has sanctioned a new military doctrine, allowing the use of nuclear weapons in response to ballistic missile attacks. Additionally, the Russian Ministry of Defense announced the capture of Novoselidovka in the Donetsk region and reported widespread assaults on Ukraine's military and energy infrastructure across 146 regions within the last 24 hours. Meanwhile, the uncertainty regarding the Federal Reserve's course of action on interest rates continues to weigh on asset prices. Speculation is rife that an interest rate cut might not occur next month, with pricing in the money markets indicating a 59% likelihood of a rate reduction and a 41% chance of maintaining the current rate. The US dollar's appreciation against other currencies, with the US dollar index rising 0.11% to 106.262, is expect ed to dampen oil demand by increasing costs for foreign currency users. Additionally, potential trade tensions between the US and China, the world's largest oil consumers, alongside ongoing concerns about China's economic activity, are influencing commodity prices and raising fears of a decline in crude demand from China, the world's top oil importer.