Oil Prices Edge Higher in Early Asian Trade

Oil rose in early Asian trading, supported by concerns over potential disruptions to global supply, according to Julian Pineda, market analyst at Forex.com. A rebound in buying interest has added fresh volatility to the market, he noted in a commentary.

Investors are closely watching developments in Ukraine, where escalating tensions could trigger new sanctions on Russia and disrupt global oil flows.

At last check, front-month WTI crude futures were up 0.7% at $63.16/bbl, while Brent futures gained 0.6% to $67.25/bbl.