Crude oil prices bounced back from sharp losses the previous day, lifted by a weaker dollar and a bullish price forecast from US banks Goldman Sachs and Morgan Stanley.
New York's main contract, light sweet crude for delivery in July, closed at $US99.59 a barrel, an increase of $1.89 from Monday.
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In London, Brent North Sea crude for July added $2.43 to settle at $US112.53 a barrel.
The benchmark West Texas Intermediate contract had earlier fallen close to $95.
Turmoil in Arab states prompted US investment banks Goldman Sachs and Morgan Stanley, key players in the commodities markets, to raise their price forecasts for London's benchmark Brent contract.
Goldman Sachs estimated oil would hit $130 a barrel over the next 12 months.
Morgan Stanley raised its 2012 forecast to $130 a barrel, from $105, predicting tight supplies from the Libyan production loss and rising emerging-market demand.
In other Nymex trading, heating oil added 6.16 cents to settle at $US2.9213 per gallon and gasoline futures gained 5.21 cents to settle at $US2.958 per gallon. Natural gas lost less than a penny to settle at $US4.391 per 1,000 cubic feet.
PRECIOUS METALS
June gold closed $7.90 higher at $US1,523.30 per ounce on the Comex division of the NY Mercantile Exchange, and June palladium rose $3.45 to $US735.25.
In July contracts, silver rose $1.224 to settle at $US36.128 per ounce and platinum lifted $6.60 to $US1,726.50.
INDUSTRIAL METALS
Copper closed up on Tuesday, recovering from the prior session's three per cent dive, but worries over European sovereign debt problems and Chinese demand should limit near-term rallies.
Prospects for a sustained rise in prices looked dim with Chinese authorities vigilant about fighting inflation and signs that economic growth is slowing in some Western economies.
Copper's break below the key 200-day moving average on Monday fed the market's negative mood, making Tuesday's rebound appear to be a bounce in a correction.
London Metal Exchange (LME) three-month copper rose $65 to end at $8,860 a tonne, barely above the 200-day average at $8,828.
In New York, the July COMEX contract settled up 2.15 cents at $4.0130 per lb.
Copper's fortunes continued to rely on China, where the analysts say the slowing economy and seasonal fall in demand will limit the nation's copper imports in the third quarter, while a recovery in Q4 is still uncertain.
China plans to expand output of secondary nonferrous metals by 60 per cent from 2010 to 1.2 million tonnes by 2015 by tapping into scrap, a senior industry official said on Tuesday.
LME copper stocks rose by 1,075 tonnes net to nearly 470,000 tonnes, its highest in almost a year. Despite a rising trend in LME stockpiles overall, stocks in Asian locations are slipping, which analysts say suggests the return of Chinese consumers.
Zinc ended up $72 at $2,191 a tonne.
Nickel plumbed a six-month low of $22,203 a tonne amid expectations a market surplus will grow in the second half, typically seen as a seasonally weaker period for stainless steel demand. But it ended up $495 at $22,895 a tonne.
