World oil prices surged on Wednesday on a significant fall in U.S. gasoline stocks
World oil prices surged on Wednesday on a significant fall in U.S. gasoline stocks, and amid concerns over Middle East conflict.
New York's light sweet crude for delivery in September, climbed 19 cents to close with 73.94 dollars per barrel.
In London, Brent North Sea crude for September delivery added 72 cents to close with 74.00 dollars per barrel.
Over the past four weeks, U.S. demand for gasoline rose by 1.8 percent from the same period in 2005, the DoE said. The figure had stood at 1.9 percent last week.