Oil prices gained towards $76 a barrel today aided by a weaker dollar while falling Asian stock markets restricted gains.

For September delivery, US crude rose 20¢ to stand at $75.59 a barrel at 03.46 GMT, reports Reuters.

The National Hurricane Center said an area of low pressure over south-west Georgia could move south into Gulf of Mexico waters and has a medium chance of becoming a tropical cyclone within the next 48 hours.