Crude prices rose Tuesday on concerns of a newly formed tropical storm in the Atlantic.

Light, sweet crude for September delivery rose 76 cents to 72. 38 dollars a barrel. London Brent crude rose 28 cents to 70.51 dollars a barrel.

Tropical storm formed in the Atlantic Ocean midway between Africa and the Caribbean on Tuesday, and forecasters said it could become the first Atlantic hurricane of 2007 later in the week, said reports.

The energy markets declined last week on concerns that credit market troubles would hurt economic growth and curb demand for energy.