Oil prices rose above 74 US Dollar on Tuesday, driven by prospects of improved demand as the economy recovers and as cold weather hits the United States earlier than expected.New York's main contract, light sweet crude for delivery in November climbed 75 cents to 74.02 US Dollar a barrel in Tuesday's trade. Brent North Sea crude for November delivery gained 90 cents to 72.26 US Dollars a barrel in late afternoon London deals.