The Kremlin on Friday said Russian President Vladimir Putin told German Chancellor Olaf Scholz, in a phone call, that Ukraine was stalling talks with “unrealistic proposals,” according to news reports. Meanwhile, world leaders are pushing for an investigation of Russia’s repeated attacks on civilian targets, including airstrikes on schools, hospitals and residential areas.

The U.S. and its allies have hit Russia with severe sanctions, with Washington also banning imports of Russian crude. Western sanctions have largely attempted to exempt Russian energy flows, but analysts and others have warned that Russian supply is likely to be sharply curtailed in the months ahead.

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“The news from Russia and Ukraine with respect to the peace talks no longer sounded nearly as optimistic as it did before, which has doubtless prompted the market to reassess the situation,” said Carsten Fritsch, commodity analyst at Commerzbank, in a note.

Wednesday‘s forecast from the International Energy Agency also had an impact, he said, warning that the market could end up missing 3 million barrels a day of crude and oil products from Russia beginning in April.

In a press release Friday, the IEA said there are measures that advanced economies can take to “achieve significant reductions in oil demand in a matter of months” to reduce the risk of a major supply crunch. It said its “10-Point Plan to Cut Oil Use” would lower oil demand by 2.7 million barrels a day within four months.