Baghdad: Oil prices rose in early Asian trading on Tuesday Oil prices increased due to concerns about supply disruptions amid escalating tensions between Russia and Ukraine.

According to National Iraqi News Agency, Brent crude futures rose by 40 cents, or 0.59%, reaching $68.55 a barrel. Concurrently, U.S. West Texas Intermediate (WTI) crude saw a more significant increase, rising to $65.06 a barrel, which represents a gain of $1.05, or 1.64%.

It was noted that WTI futures were not settled on Monday because of a holiday in the United States, adding another layer of complexity to the current market dynamics.