Oil prices hovered near a two-week low on Tuesday after weak economic data from China and warming weather forecasts elsewhere soured the demand outlook.

Oil futures settled lower on Monday, as the Trump administration’s ongoing tariff threats and their potential economic impact, along with concerns over the potential for a slowdown in AI-related power demand,

Oil prices edged higher but remained near a two-week low on Tuesday, as weak economic data from China and rising temperatures elsewhere dampened the demand outlook. Brent crude oil futures were up by 35 cents,