Oil prices rose slightly, but market sentiment was under pressure due to demand concerns.

Oil prices edged up slightly, after falling around 1% in the previous trading day due to concerns about oversupply and weak demand. Brent crude rose by 0.4% to $65.11 per barrel; West Texas Intermediate rose by 0.3% to $63.04 per barrel. While U.S. crude inventories fell more than expected, the increase in gasoline and diesel inventories offset this, reflecting softening demand in the world's largest oil-consuming country. Meanwhile, reports that Saudi Arabia is seeking to significantly increase production again at the next OPEC+ meeting next month continue to weigh on market sentiment, amid concerns of oversupply. XS.com analyst Antonio Di Giacomo said: "This strategic move aims to take advantage of the peak oil demand typically seen in the northern hemisphere summer, during which travel and economic activities usually lead to a sharp increase in fuel consumption." In addition, Saudi Aramco has reduced its prices to Asia, indicating weak demand.