Oil prices gained on Tuesday as optimism about robust global demand boosted sentiment.

China, the second largest oil importer in the world, imported 253.78 million tons, or about 5.08 million barrels per day last year, which was about 6 percent higher than the 2010 amount, according to the country's General Administration of Customs.

Analysts believe that China's oil import will not rebound sharply this year due to the slowdown in the world economy. However China's crude import is still expected to rise 6 percent or more in 2012.

Also boosting investors' optimism, Fitch said on Tuesday that it will not downgrade France's 3A rating this year.

Meanwhile, concerns about supply security in the Middle East help push oil prices still higher. Nigeria, a top oil supplier to the U.S., has been embroiled in widespread protests and violence following its government's decision to end subsidies, more than doubling the price of gasoline.

Iran, however, still threatened to close the Strait of Hormuz if the U.S. and other countries impose further sanctions over its nuclear program.

As of Tuesday's close, light, sweet crude for February delivery rose 93 cents, or 0.92 percent to settle at 102.24 dollars a barrel on the New York Mercantile Exchange.

In London, Brent crude for February delivery also went up and last traded at about 113 dollars a barrel.