Although gains were limited by a firmer dollar, oil prices rose on Tuesday. They extend the previous day's rise on the hope of increased seasonal fuel demand and potential purchases of American crude for its oil reserve

Brent oil futures rose 28 cents, or 0.3%, to $81.91 per barrel at 0038 GMT and American West Texas Intermediate oil futures rose 31 cents, or 0.4%, to $78.05. Prices soared by around 3% to their highest level in a week on Monday, supported by expectations of increased fuel demand this summer despite the dollar rising on expectations from the US Federal Reserve to leave higher interest rates for longer. According to Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities, “the oil market has been supported by the expectation of increased fuel demand this summer and by the prospect that if WTI stays below $79, the