Oil prices rose slightly on Tuesday following US President Donald Trump's threats to impose secondary tariffs on Russian crude and launch an attack on Iran.

 

However, concerns over the impact of the trade war on global economic growth limited the gains.

 

Brent crude futures rose by 18 cents, or 0.2 percent, to USD 74.95 per barrel, while West Texas Intermediate (WTI) crude increased by 16 cents, or 0.2 percent, to USD 71.64 per barrel, according to CNBC.

 

Despite the volatile fluctuations in oil prices, the commodity ended the first quarter of the year near its starting point, as the market balanced between geopolitical factors, concerns over supply surpluses, and expectations of increased production from the OPEC+ alliance starting this month.