Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Brent crude futures for January rose 28 cents, or 0.4 per cent, to $73.09. U.S. West Texas Intermediate crude futures for January rose 28 cents, or 0.4 per cent, at $69.03. Ukraine fired a volley of British Storm Shadow cruise missiles into Russia on Wednesday, the latest new Western weapon it has been permitted to use on Russian targets a day