Oil prices climbed more than $2 a barrel on Monday after news that crude production at Norway's Johan Sverdrup oilfield had been halted, which added to earlier gains stemming from escalation of the Russia-Ukraine war.

Oil prices held steady on Tuesday after the previous day's rally, driven by a halt in production at Norway's Johan Sverdrup oilfield, and as investors remained cautious amid fears of an escalation in the Russia-Ukraine war.

Kazakhstan's biggest oil field Tengiz, operated by U.S. major Chevro has reduced oil output by 28% to 30% due to repairs, helping to further tighten global supplies. Repairs were expected to be completed by Saturday, the country's energy ministry said.