Crude prices rose on Tuesday after the U.S. stocks gained ground, Xinhua reported.
Investors have looked to stocks as indicators of where the economy and demand might be headed.
Led by materials, the U.S. stocks closed higher on Tuesday as investors digested data and corporate earnings. The S&P 500 index rose more than 1 percent.
Light, sweet crude for August delivery rose 90 cents to settle at 77.44 U.S. dollars a barrel on the New York Mercantile Exchange.
In London, Brent crude rose 60 cents to settle at 76.22 dollars a barrel on the ICE futures exchange.