LONDON (Reuters) - Oil prices set a new record at $53 a barrel on Thursday on concerns over tight winter heating fuel supplies and news of an unexpected strike at Nigerian oil terminals.

U.S. light crude futures hit a record $53 a barrel, marking a surge of $20 a barrel -- more than 60 percent -- so far this year and by 1545 GMT was trading at $52.40, up 38 cents.

London's Brent crude also struck a record peak at $49.20 before easing to $48.61, up 62 cents on the day.

Prices have rocketed as China's economic expansion drives the fastest demand growth in a generation, stretching world fuel supplies to the limit and leaving no cushion to cope with supply problems.