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Brent crude futures settled at US$75.02 a barrel, down 16 cents, or 0.21 per cent while US West Texas Intermediate crude (WTI) finished down 8 cents, or 0.11 per cent, at US$71.29 a barrel on Thursday.

April Brent oil futures were at $75.13, up by 0.15 per cent, and March crude oil futures on WTI (West Texas Intermediate) were at $71.35, up by 0.08 per cent

The ringgit opened higher against the US dollar as the market remained cautious ahead of the release of the Federal Open Market Committee (FOMC) meeting minutes on Thursday, said an analyst.

The Trump administration is intensifying its crackdown on Iranian oil shipments to China.

Unlike his first term, Trump’s second presidency is actively using economic and geopolitical pressure.

The Trump administration is targeting tankers, brokers, financiers, and shipping hubs that facilitate Iranian oil exports to China.

Tokyo main stock market closed at a 14-month high on December 2, boosted by data suggesting China's economy was improving despite uncertainty over trade talks with Washington

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