World oil prices fell on profit-taking today but losses were limited by concerns over tight supplies, as the International Energy Agency called for increases to US refining capacity.
In London, Brent North Sea crude for August delivery lost 21 cents to $71.20 per barrel in electronic deals.
New York's main oil futures contract, light sweet crude for delivery in August, slid 86 cents to $69.82 dollars in US floor trading.
New York crude had struck a 10-month high of $71.06 per barrel on Friday - the highest level since August 28, 2006 - on US supply concerns.
Oil prices have in recent weeks won support from concerns about refinery utilisation as outages across the US have created supply problems in the production of gasoline (petrol) from crude oil.
US gasoline stockpiles fell 700,000 barrels to 202.6 million barrels in the week ending June 22, official data showed last Wednesday.
That surprised the market, as analysts had expected a gain of 1.0 million barrels.
Gasoline reserves are in focus because of the US summer driving season when demand typically peaks as many Americans take to the roads for their annual vacations.
