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London - Global oil prices hit a 15-month high point on Thursday, boosted by signs of strengthening demand in top consumer the United States and ongoing supply fears linked to violence in Egypt, dealers said.
In earlier trading, New York's main contract, West Texas Intermediate for delivery in August, spiked to $107.45 a barrel - a level last seen in late March 2012.
It later stood at $104.54, down $1.99 from Wednesday on profit-taking.
Brent North Sea crude for August rallied to $108.93 a barrel -- reaching a high last seen in early April 2013 - before pulling back to $107.46, down $1.05 from Wednesday's closing level.
Crude futures had already scored multi-month highs on Wednesday after the US Energy Information Administration's weekly crude stockpiles data indicated a major pickup in energy demand.
The report said crude-oil stockpiles tumbled by 9.9 million barrels in the week ended 5 July - more than triple the 2.9-million-barrel drop expected by analysts polled by Dow Jones Newswires and followed the prior week's drop of nearly 10 million barrels.
Added to the picture, traders remain deeply concerned over potential disruption in Middle East supply following the overthrow last week of Egypt's Islamist president Mohamed Morsi by the military.
Egypt is not a major crude oil exporter but is home to key oil transit points of the Suez Canal and the Sumed pipeline.
In earlier trading, New York's main contract, West Texas Intermediate for delivery in August, spiked to $107.45 a barrel - a level last seen in late March 2012.
It later stood at $104.54, down $1.99 from Wednesday on profit-taking.
Brent North Sea crude for August rallied to $108.93 a barrel -- reaching a high last seen in early April 2013 - before pulling back to $107.46, down $1.05 from Wednesday's closing level.
Crude futures had already scored multi-month highs on Wednesday after the US Energy Information Administration's weekly crude stockpiles data indicated a major pickup in energy demand.
The report said crude-oil stockpiles tumbled by 9.9 million barrels in the week ended 5 July - more than triple the 2.9-million-barrel drop expected by analysts polled by Dow Jones Newswires and followed the prior week's drop of nearly 10 million barrels.
Added to the picture, traders remain deeply concerned over potential disruption in Middle East supply following the overthrow last week of Egypt's Islamist president Mohamed Morsi by the military.
Egypt is not a major crude oil exporter but is home to key oil transit points of the Suez Canal and the Sumed pipeline.
