Oil prices rose for a second day early on Tuesday, as US plans to purchase oil for the Strategic Petroleum Reserve (SPR) lent support while raging wildfires in Canada fuelled supply worries.
Brent crude futures rose 31 cents, or 0.4 per cent, to $75.54 a barrel by 0043 GMT, while US West Texas Intermediate crude was at $71.38 a barrel, up 27 cents, or 0.4 per cent.
Both benchmarks rose more than 1% on Monday, reversing a 3-session losing streak.
The US Department of Energy said on Monday it would buy 3 million barrels of crude oil for the SPR for delivery in August, and asked that offers be submitted by May 31.
