World crude oil prices rose Wednesday amid concern over Iran, as U.S. gasoline reserves rose less than expected.

New York's main contract, light sweet crude for delivery in August, gained 99 cents to close at 70.33 dollars per barrel.

In London, Brent North Sea crude for August delivery added 1.09 dollars to end at 69.17 dollars per barrel.

The U.S. Department of Energy reported Wednesday U.S. commercial crude oil inventories rose by 1.4 million barrels to 347.1 million, their highest level since late May 1998, in the week ending June 16.

Gasoline reserves also went up 300,000 barrels to 213.4 million last week. The increase was below the advance of 1.5 million barrels that analysts had predicted.

Supplies of gasoline are closely watched because of the peak demand season in the United States. Over the past four weeks, the nation's demand for gasoline has been running 0.9 percent higher than a year ago.

Source: Xinhua