Oil prices continued to rise on Tuesday due to a seasonal increase in gasoline demand and production cuts from OPEC+ producers. Brent crude futures rose by 0.37% to $76.27 a barrel, while U.S. West Texas Intermediate (WTI) crude increased by 0.43% to $72.36 a barrel. The rise in oil prices was also attributed to planned U.S. purchases to refill the Strategic Petroleum Reserve and voluntary production cuts by OPEC+. However, concerns over the risk of a U.S. debt default limited gains. Investors are keeping a cautious eye on negotiations to raise the U.S. government's debt ceiling, which could impact fuel demand growth both domestically and globally.