Oil prices edge higher; China COVID surge limits gains

SINGAPORE  -Oil prices inched higher on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China.

Brent crude futures were up 15 cents, or 0.2 percent, at $79.95 a barrel at 0710 GMT, adding to a 76 cent gain in the previous session.

U.S. West Texas Intermediate (WTI) crude futures rose 32 cents, or 0.4 percent, to $75.51 a barrel, after climbing 90 cents in the previous session.

Both contracts rose by more than $1 earlier in the session.