After the Saudi national oil company sharply raised its crude prices for the month of March, oil prices rose slightly on Thursday.

Brent futures rose by 44 cents, or 0.6%, to $75.05 per barrel at 13:55 GMT. American West Texas Intermediate crude gained 48 cents, or 0.7%, to $71.51. Oil prices fell by more than 2% on Wednesday, as a large accumulation of crude and gasoline inventories in the United States signalled lower demand, while investors also assessed the implications of a new round of tariffs between the United States and China, especially on energy products. Prices have fallen by around 10% since January 15, five days before Donald Trump came to power as president of the United States.