The International Energy Agency has shaved its forecast for world oil demand this year but warned that markets for oil and petrol could tighten, pointing to further price rises.
This evening in London, the price of Brent North Sea crude for June delivery roes 55 cents to $66.34 per barrel.
New York's main oil futures contract, light sweet crude for delivery in June, added 3 cents to $61.84 per barrel.
The IEA focused on political trouble in Nigeria, a fall in OECD oil stockpiles and of reserves of petrol in the US before the summer 'driving season' there, and strains in the global refining sector.
It reduced its forecast figure for global demand for oil in 2007 by 0.1 million barrels per day from its estimate a month ago to 85.7 million barrels because of mild weather in the northern hemisphere and a slight reduction of its forecast for demand in China.
But it warned that there were concerns about supplies, with average petrol retail prices in the US near record highs.
'Underlying worries about product availability in the summer are concerns that geopolitics could threaten crude supplies, mostly in Nigeria,' the IEA said.
