World oil prices jumped by more than a dollar on Thursday as traders worried about weak supplies of motor fuel in the United States during the country's peak- demand driving season.

New York's main contract, light sweet crude for delivery in August, leapt by 1.33 dollars to close at 73.52 dollars per barrel.

In London, Brent North Sea crude for August delivery soared by 1.47 dollars to 72.88 dollars per barrel, after earlier touching 72.98 dollars, last seen on May 12.

U.S. data on Wednesday had shown weaker-than-expected gasoline stocks at the beginning of the U.S. summer holiday driving season.

The U.S. Department of Energy said Wednesday that U.S. reserves of gasoline had fallen by 1 million barrels to 212.4 million last week.

The Department also said on Wednesday that demand for gasoline rose 1.2 percent in the week that ended June 23 from the prior week to 9.54 million barrels per day, matching its record high set in August 2005.

Prices also drew strength from the continued closure of a key shipping channel in Louisiana, which has limited output at three refineries.

The U.S. government has agreed to lend 750,000 barrels of crude oil from the Strategic Petroleum Reserve to refineries owned by Citgo Petroleum Corp. and ConocoPhillips, which have had supplies reduced because of the shipping problems.

The U.S. Coast Guard said on Wednesday about nine miles of the channel had reopened and about 11 miles remained closed.

Source: Xinhua