NEW YORK (CNNMoney.com) -- Oil prices extended gains Tuesday as the dollar weakened against the euro after concerns over Europe's debt crisis eased.
What prices are doing: Crude oil for April delivery rose $2.56, or 2.6%, to $73.75 a barrel. After falling nearly 8% over three consecutive sessions, crude prices rose 1% Monday to settle at $71.89.
What's moving the market: Prices were boosted by the softer dollar, which fell 1% against the euro on speculation that Europe will help Greece lower its debt.
European Central Bank president Jean-Claude Trichet reportedly will leave a meeting in Sydney early to meet with European Union leaders.
Crude oil, like other commodities, is priced in dollars, and a weaker greenback lifts prices.
The dollar gained ground against the euro last week as debt worries in Greece, Portugal and Spain threatened Europe's economic recovery.
Gasoline prices: The national average for a gallon of regular unleaded gasoline decreased to $2.644, down six tenths of a cent from the previous day's price of $2.652, according to motorist group AAA.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.80%||3.88%|
|15 yr fixed||3.20%||3.23%|
|30 yr refi||3.82%||3.93%|
|15 yr refi||3.20%||3.23%|
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