U.S. crude oil prices increased by almost 1% on Tuesday, as West Texas Intermediate futures reached $71.22 per barrel, a rise of 66 cents or 0.94%. This follows a nearly 2% increase in the previous session, as traders reconsidered the possibility of supply disruptions in the Middle East due to ongoing tensions between Israel and Iran.

Weak demand from China has recently put pressure on prices, but a reduction in Beijing's benchmark lending rates on Monday has provided some support to the futures market. Meanwhile, Brent crude for December delivery rose by 56 cents to $74.85 per barrel, reflecting a year-to-date decline of nearly 3%.

In related markets, the RBOB gasoline November contract increased by 0.97% to $2.0342 per gallon, while natural gas for November rose by 0.26% to $2.318 per thousand cubic feet. Year-to-date, gasoline prices have pulled back about 3%, and natural gas has seen a decline of nearly 8%.