LONDON, July 12: World oil prices climbed slightly on Wednesday after official data showed US energy inventories had fallen more sharply than expected last week, analysts said.

Crude futures also climbed as world powers huddled in Paris to discuss the international standoff concerning major crude producer Iran, and as traders digested an International Energy Agency forecast for global oil demand.

New York's main contract, light sweet crude for delivery in August, gained 24 cents to $74.40 per barrel in pit trading.

Brent North Sea crude for August delivery advanced 15 cents to $73.82 per barrel in electronic deals.—AFP