Doha: Oil prices edged down on Wednesday after rising to two-week highs in the previous session, as investors awaited new developments on US tariffs amid expectations of rising crude inventories in the United States. Brent crude futures slipped 20 cents, or 0.3%, at $69.95 a barrel. US West Texas Intermediate crude fell 21 cents, or 0.4%, to $68.12 a barrel.

According to Qatar News Agency, US President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea, and the European Union that deals to ease duties could still be reached. However, the delay left some smaller exporters, such as South Africa, bewildered and companies with no clarity on the path forward.