09:05 AM EST, 02/11/2025 (MT Newswires) -- Oil prices moved higher for a third-straight session early on Tuesday on supply concerns while the Trump Administration's new 25% tariff on U.S. imports of steel and aluminum could affect the energy sector.

West Texas Intermediate crude oil for March delivery was last seen up US$1.30 to US$73.62 per barrel, while April Brent crude was up US$1.38 to US$77.25.

The rise comes as tightened sanctions on exports from Russia and Iran raise supply concerns. The sanctions hit unregistered tankers shipping oil from the two countries to China and India, forcing the two major importers to source crude from other producers, mostly in the Middle East.

"With the U.S. bearing down on Iranian exports and sanctions still biting into Russian flows, Asian crude grades remain firm and underpin the rally from yesterday," PVM oil analyst John Evans told Reuters.

Donald Trump on Monday issued 25% tariffs on steel and aluminum imports beginning March 12, which could raise costs for the U.S. energy sector and raise costs for U.S. oil and gas producers.

"Trump's tariffs could disrupt the US energy sector, particularly oil drillers reliant on imported specialty steel," Saxo Bank noted.