World oil prices surged Monday, although London prices failed to hold on to record peaks, amid fresh supply jitters and lingering concerns about the ailing US dollar, traders said.

Prices in New York held close to record highs of above 112 dollars which were struck last week on news of falling energy stockpiles in the United States.

New York's main oil futures contract, light sweet crude for delivery in May, closed up 1.52 dollars at 111.76 dollars a barrel compared with Friday's close, marking a record closing high.

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The contract had rocketed to a record 112.21 dollars last Wednesday.

In London, Brent North Sea crude for May delivery settled down 1.09 dollars at 109.84 dollars shortly after the contract broke through the 110-dollar barrier for the first time.

Brent oil briefly traded at a record 110.01 dollars before receding as the London market closed for the day.

Traders seized on fresh supply concerns in the United States, which is the world's biggest economy and the largest global consumer of energy.

Analysts said reports of a temporary shutdown to repair a small leak in Shell's Capline pipeline system, which transports oil into the US Midwest, helped to boost prices.

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