London: Oil prices remained stable in early Asian trading today amid anticipation over the impact of new European sanctions on Russian oil supplies, and concerns about fuel demand amid the effects of tariffs on global economic growth. Brent crude futures rose by five cents to $69.33 per barrel, after closing down 0.35% last Friday.

According to National Iraqi News Agency, West Texas Intermediate (WTI) crude futures increased by two cents to $67.36 per barrel, following a 0.30% decline in the previous session. The U.S. tariffs on imports from the European Union are scheduled to take effect on August 1, despite U.S. Commerce Secretary Howard Lutnick expressing confidence yesterday in the country’s ability to reach a trade agreement with the European bloc.