NEW YORK, Oct 14 (AFP) - New York's main crude oil contract jumped to a record high 54.88 dollars a barrel Thursday as traders fretted over news of a decline in heating oil inventories.
New York's benchmark light sweet crude for delivery in November surged 1.24 cents to 54.88 dollars in afternoon trade.
US commercial inventories of crude oil surged but crucial heating oil stocks slid even as winter approached, a government survey showed.
Crude oil inventories in the week to October 8 surged 4.2 million barrels from the previous week to 278.2 million barrels, at the lower end of average for this time of year, the Energy Department report said.
But distillates -- mostly diesel and heating oil -- dropped 2.5 million barrels to 120.9 million.
Heating oil inventories, in high demand in the northern hemisphere winter, declined 1.2 million barrels to 50.0 million. Diesel fell 2.1 million barrels to 68.2 million.
Stocks of gasoline climbed 1.2 million barrels to 200.6 million.