World oil prices fell sharply to the lowest in six months on Wednesday after an unexpected distillate fuel stock growth.

New York's main contract, light sweet crude for delivery in October, dropped 1.20 dollars to close at 60.46 dollars per barrel, after hitting as low as 59.80 dollars.

In London, Brent North Sea crude for November delivery fell 1.70 dollars to close at 60.47 dollars per barrel.

U.S. commercial crude oil inventories fell last week while stockpiles of gasoline and other refined fuels posted gains, the Energy Department reported Wednesday in its weekly survey.

In the week ending Sept. 15, commercial crude oil reserves dropped 2.8 million barrels to 324.9 million. Still, that was 5 percent higher than a year ago and well above the five-year average for this time of year.

Gasoline stockpiles, however, rose by 600,000 barrels last week to 207.6 million, or 6 percent above year ago levels. Supplies of distillate fuel, including diesel and heating oil, jumped by 4.1 million barrels last week to 148.7 million, or was more than 11 percent above year ago levels.

Crude futures have fallen more than 20 percent from its record 78.40 dollars per barrel in mid-July, as demand was downgraded and supply worries eased.

Source: Xinhua