NEW YORK -- Higher heating oil prices brought on by tight early-winter supplies carried U.S. crude futures higher Wednesday. December crude gained 73 cents on the New York Mercantile Exchange as weekly inventory reports showed heating oil stocks on the decline for the ninth consecutive week.

Crude settled at $46.84 per barrel while December heating oil settled more than 8 cents higher at $1.411 per gallon.

The Energy Information Administration reported Wednesday while the U.S. crude stockpile increased 800,000 barrels to 292.3 million barrels, heating oil production remained flat and supplies were at the low end of the average range.

Gasoline inventories were down slightly but remain within the normal range despite slightly higher demand. December unleaded settled 3.4 cents higher at $1.256 per gallon.

The average retail gasoline price hovered around $1.96 per gallon, according to AAA's latest nationwide survey.

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