Baghdad: Oil prices rose on Tuesday, despite continued concerns about adverse economic conditions caused by U.S. tariffs and monetary policy that could weaken fuel demand. Brent crude futures increased by 36 cents, or 0.5%, reaching $66.62 a barrel. U.S. West Texas Intermediate (WTI) crude futures for May delivery, which expire today, climbed 65 cents, or 1%, to $63.73 a barrel. Additionally, the most widely traded U.S. crude futures for June delivery went up by 43 cents, or 0.7%, to $62.84 a barrel.

According to National Iraqi News Agency, both benchmarks experienced a decline of over 2 percent on Monday. This drop was attributed to signs of progress in the ongoing talks between the United States and Iran concerning a nuclear deal, which helped to alleviate some supply concerns in the market.