In early trading in Asia, oil prices are rising, and the market expects more sanctions to be imposed on Russia.

Oil prices in Asia rose slightly in early trading, with market expectations of more sanctions on Russia. The near-month West Texas Intermediate (WTI) crude oil futures rose by 0.2% to $62.82 per barrel, while the near-month Brent crude oil futures rose by 0.2% to $66.82 per barrel. Analysts at the research department of Deutsche Bank said in a research report, "Currently, oil prices are being supported by ongoing discussions about further sanctions on Russia." The European Union has proposed sanctions on foreign companies that purchase Russian oil as part of a package of measures aimed at increasing economic pressure on Russia and its supporters, and sending a message to US President Trump.