Oil prices rose to their highest in seven weeks on Wednesday as U.S. President Donald Trump said a deal had been done with China, heightening expectations of a de-escalation in trade tensions between the world's two largest economies.

Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine

Oil rose in the early Asian trade amid Middle East tensions that could lead to supply disruptions.

Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict.

Nigeria’s naira rose for a seventh day to a two-month high against the dollar on Tuesday amid higher oil prices and as investor concerns over US trade tariffs eased.

Ukrainian President Volodymyr Zelensky says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues.

Oil prices rose more than 4% on Wednesday, to their highest in more than two months, after sources said the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the Middle East.