Singapore:Oil prices rose on Wednesday, boosted by expectations of firm summer demand in the world s two largest consumers, the United States and

VIENNA: The Organization of the Petroleum Exporting Countries (Opec) announced on Wednesday a significant increase in oil prices in June, with

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The market remained cautious, however, as rising Saudi Arabian production and persistent concerns over global trade tensions tempered the upward momentum.

Oil prices edge higher as markets await potential Trump comments on Russia, fueling geopolitical tensions and renewed concerns over global energy supply - The Silicon Review.

However, increased oil production in Saudi Arabia and ongoing uncertainty over U.S. tariffs are capping price gains. As of 7:00 a.m. Kyiv time, Brent crude futures rose by 15 cents to $70.51 per barrel,

Oil prices extended their upward trend during early trading in Asia on Monday, building on last week’s strong performance amid mounting speculation that the U.S. might impose additional sanctions on Russia.

The oil market is holding firm despite tariff developments. Instead, the market appears focused on uncertainty around Trump’s scheduled major statement related to Russia. Read more