Crude oil futures rose sharply on Thursday amid concern over gasoline supply.

Light, sweet crude for July delivery gained 1.39 dollars to close at 67.65 dollars a barrel on the New York Mercantile Exchange.

Brent crude for July delivery rose 1.02 dollars to 70.96 dollars a barrel on the ICE Futures exchange in London.

U.S. Energy Department reported on Wednesday that its gasoline stockpiles were unchanged last week. Analysts had earlier expected gasoline to rise by 2 million barrels.

Gasoline supplies are closely watched as the summer driving peak is around the corner. Even though gasoline prices may be higher this summer, U.S. motor fuel demand will remain strong, U.S. Energy Department predicted.