New York, July 09: World oil prices edged higher Tuesday as traders fretted about the level of global energy supplies, overshadowing relief at the end of a strike in oil-rich Nigeria. New York's benchmark light sweet crude august contract gained nine cents to close at USD 30.22.

In London, the price of Brent North Sea crude oil for August delivery rose 17 cents to USD 27.99.

"You are in that period of year when crude demand is high and crude oil and gas inventories are traditionally low," said market analyst Bill O' Grady. "Seasonal factors really matter in the market," he said.

Traders had sold oil earlier in the day on news of the Nigerian strike collapsing, but they later scurried back for fear of having sold too much, O'Grady said.

Weekly figures on the level of US commercial crude oil inventories are scheduled to be released today. GNI trader Lee Elliott in London said the fall in prices earlier in the day was "due to the fact that the strike in Nigeria has now ended and the loadings were unaffected by the strike".

"Basically it is business as usual. The unions have suspended the strike after reaching an agreement with the government over the gasoline prices."

Strike leader Adams Oshiomhole, president of the Nigeria Labour Congress (NLC), said earlier that unions had called off the strike after accepting a government offer to reduce the petrol price cap. Bureau Report