World crude oil prices, amid profit-taking and worries of supply in Iran and Nigeria, retreated Monday after hitting record highs.

New York's main contract, light sweet crude for delivery in June, fell 1.83 dollars to close at 73.33 dollars a barrel, after touching 75.35 dollars, its highest price since 1983.

On London's ICE Futures exchange, the price of Brent North Sea crude for June delivery fell 1.57 dollars to 73.00 dollars.

World crude oil prices closed with record highs above 75 dollars Friday amid worries of supply in Iran and Nigeria.

Traders are still concerned about Iran's nuclear standoff with the international community and violence in Nigeria that has forced the shutdown of more than half a million barrels a day of supply.

Iran's hardline President Mahmoud Ahmadinejad said on Monday that his country would "reconsider" its cooperation with the UN atomic agency if western countries continue to prevent Iran from obtaining nuclear technologies.

Inventories of U.S. commercial crude oil and refined products declined in the week ended April 14, the Energy Department reported Wednesday.

Data showed that the nation's gasoline stockpiles plunged 5.4 million barrels last week to 202.5 million, or 4.6 percent below year ago levels.

Source: Xinhua