LONDON, June 18: World oil prices hit their highest points for more than nine months on Monday, mainly owing to concerns about fuel supplies in the United States and Nigeria, analysts said.

In London, Brent North Sea crude for August delivery reached $72.25 per barrel, which was last seen on August 28, 2006.

It later stood at $72.05, up 58 cents from Friday’s close.

New York’s main oil futures contract, light sweet crude for delivery in July, soared to $69.05 per barrel -- the highest point since September 5.

It later stood at $68.83, up 83 cents, in pit deals.

Oil futures leapt as traders continued to focus on low US gasoline reserves during the ongoing driving season, when demand for petrol spikes as many Americans take to the roads for their summer vacations.

“Gasoline is going to be tight this summer,” Calyon analyst Mike Wittner said.

Elsewhere, international political tensions were providing some price support.

“There are plenty of bullish themes to support prices at the moment, with supply disruptions in Nigeria, concerns about Iran’s refusal to halt nuclear enrichment, the Atlantic hurricane season and now concerns about fighting in Israel,” noted Sucden analyst Michael Davies in London.

Nigerian unions on Monday delayed the start of a general strike by two days but warned that when it did begin on Wednesday it could hit oil exports from Africa's biggest producer.

Unions had given the government until midnight Sunday to reverse a doubling of value-added tax (VAT), a 15 per cent hike in fuel prices and to review a decision to sell two state-owned oil refineries.

They also called for the implementation of a recent 15 percent wage increase.

“The situation in Nigeria is having its impact,” said one trader, who wished to remain anonymous.

Meanwhile last week, oil prices gained five per cent in New York and four per cent in London as the US Department of Energy revealed that US gasoline inventories were unchanged at 201.5 million barrels in the week ending June 8.

That ended a five-week streak of gains and confounded market expectations for a large increase of 1.5 million barrels of US gasoline.

Traders are concerned about whether American refineries can convert enough crude oil into gasoline to meet demand during the driving season, according to Steve Rowles, an analyst with CFC Seymour in Hong Kong.

“They are still playing out on the data from last week,” he said.—AFP