World crude oil prices rallied above 72 dollars Thursday amid concern over Iran.

New York's main contract, light sweet crude for delivery in October, gained 60 cents to close at 72.36 dollars per barrel.

In London, Brent North Sea crude for delivery in October, rose 66 cents to settle at 72.68 dollars per barrel.

The UN Security Council has demanded that Iran stop its uranium enrichment by Aug. 31, or it would face possible sanctions. Traders worry about the possibility that Iran's oil exports would halt if the United Nations imposed international sanctions on Teheran for its nuclear activities.

Iran is OPEC's No. 2 producer following Saudi Arabia, pumping 4 million barrels of crude oil and exporting 2.4 million barrels per day.

World crude retreated sharply Wednesday on U.S. weekly energy supply report. The U.S. Department of Energy reported Wednesday that inventories of gasoline grew by 400,000 barrels last week to 205.8 million barrels, or 2.8 percent more than a year ago.

Source: Xinhua