LONDON—Oil prices rose 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 50 cents, or 0.65 percent, at $80.30 a barrel by 1035 GMT, adding to a 76 cent gain in the previous session.
U.S. West Texas Intermediate (WTI) crude futures rose $1, or 1.31 percent, to $76.19 after climbing 90 cents on Monday.
Oil prices have been buoyed by U.S. plans announced last week to buy up to 3 million barrels of oil for the Strategic Petroleum Reserve after this year’s record release of 180 million barrels….