Oil prices edged higher but remained near a two-week low on Tuesday, as weak economic data from China and rising temperatures elsewhere dampened the demand outlook. Brent crude oil futures were up by 35 cents,

Oil futures settled lower on Monday, as the Trump administration’s ongoing tariff threats and their potential economic impact, along with concerns over the potential for a slowdown in AI-related power demand,

Oil prices hovered near a two-week low on Tuesday after weak economic data from China and warming weather forecasts elsewhere soured the demand outlook.

Vandana Hari of Vanda Insights says that Trump's declaration of a national energy emergency was probably meant to send a strong message of his intentions to deregulate the oil and gas industry, and that it's unlikely OPEC would increase production as it is not in their interests.

By Yousef Saba, Maha El Dahan, Alex Lawler and Ahmad Ghaddar DUBAI (Reuters) -Saudi Arabia's energy minister and several of his OPEC+ counterparts have held talks following U.S. President Donald Trump's call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries,