Oil prices rose for a second straight day on Tuesday, with U.S. futures hitting seven-month highs, on expectations of a draw down in U.S. crude stockpiles and a new wildfire threat on Canadian oil supplies.

 U.S. crude inventories likely fell 2.8 million barrels last week, declining for a second straight week.U.S. crude draw down of 1.14 million barrels for last week - less than half the level forecast in the Reuters poll. The U.S. Energy Information Administration (EIA) will issue official inventory data at 10:30 a.m. (1430 GMT) on Wednesday.

 Brent crude  closed up 31 cents at $49.28, hitting a six-month high of $49.58. In after-hours trade, it got to $49.75.  

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