Oil prices edged up to a two-week high on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and on rising Middle East tensions, outweighing worries that trade tariffs would boost inflation and dampen global economic growth.

Oil futures rose Monday, finding support after three straight weekly declines that took crude to its lows of the new year.

Thanks to abundant supply and fairly flat demand, oil prices are forecast to fall — unless tariffs and geopolitics get in the way.