Crude Oil Supplies Dip but Prices Remain Downward

rude oil, gasoline and heating oil, a surrogate for diesel fuel, all reached one-month lows in trading on the New York Mercantile Exchange following the Energy Department's weekly inventory report, Bloomberg reported Wednesday.

Crude supplies fell last week, but inventories were about 10% higher than last year at this time, news services reported.

Both crude oil and distillate supplies fell by 300,000 barrels last week, DOE said. Distillates include heating oil and diesel fuel.

Oil prices fell 49 cents Wednesday to close at $62.60 a barrel on the Nymex, Bloomberg said.