Oil prices stabilized after a brief jump due to a threat to Libyan oil exports, but uncertainty remains due to potential US tariffs on Canada and Mexico.

Oil prices edged higher but remained near a two-week low on Tuesday, as weak economic data from China and rising temperatures elsewhere dampened demand prospects. Supporting prices was a disruption of oil loading operations in Libya.

Indian Oil remains confident about energy availability for India saying US sanctions imposed on Russian oil would have "marginal impact" on crude availability for the country, said Chairman A S Sahney.

Russia is sending cargoes of sanctioned oil to India on tankers that have been blacklisted by the US Treasury — setting up an acid test of Moscow's ability to get around aggressive measures imposed by Washington earlier this month.

Trade for March-loading Russian oil in top buyer Asia has stalled as a wide price gap between buyers and sellers emerged in China after costs for chartering tankers unaffected by U.S. sanctions jumped,