Oil prices rose in Asian trading on Wednesday as concerns over potential new sanctions on Russia and stalled progress in U.S.-Iran nuclear negotiations raised some supply disruption fears, while investors were cautious ahead of a pivotal OPEC+ meeting later this week.

Most Asian stocks rose on Wednesday tracking a strong overnight session on Wall Street, as investors cheered President Donald Trump’s postponement of steep trade tariffs against Europe.

Britain will spend a record 3 billion pounds ($4 billion) to boost training opportunities, the government said on Tuesday, part of a broader strategy to train locals to fill gaps in the labour market and reduce reliance on foreign workers.

A leading indicator of Japan’s service-sector inflation hit 3.1% in April, data showed on Tuesday, keeping alive expectations of further interest rate hikes by the central bank.

Most Asian stocks moved in a flat-to-low range on Tuesday as investors remained on edge over more U.S. trade tariffs, while Japanese markets dipped after Bank of Japan Governor Kazuo Ueda signaled that more interest rate hikes were possible. 

Oil prices eased on Tuesday as market participants weighed the possibility of an OPEC+ decision to further increase its crude oil output at a meeting later this week.