Oil found some support Thursday from an increase in Saudi Arabia’s crude prices for Asian buyers, which implied strength in crude demand. But a hefty rise in last week’s U.S. supplies and uncertainty surrounding tariff disputes helped weaken the outlook for crude demand.

Oil prices ticked up in early Asian trading on Thursday, steadying from a sell-off the previous day after Saudi Arabia's state oil company sharply raised March oil prices.

Oil prices edged up on Thursday after Saudi Arabia raised prices for March. However, the previous day’s decline in benchmark Brent prices was the largest in almost three months, and the increase was insignificant in comparison.