Oil prices held near a two-week high on Tuesday as investors assessed the latest developments on U.S. tariffs and a higher than expected increase to OPEC+ output for August. Brent crude futures was up 29 cents,

The price of oil was stable on Monday despite a larger-than-expected increase in production by the Organization of the Petroleum Exporting Countries and its allies. Seasonal demand and doubts about the actual increase in output explain the muted reaction.