NEW YORK, Nov. 29 (Xinhua) -- Crude oil prices hit a two-month high on Wednesday as reports showed shrinking supplies of crude, gasoline and heating oil in the United States.

Crude oil for January delivery rose 1.49 dollars to 62.46 a barrel on the New York Mercantile Exchange, the highest in the past two months.

January Brent crude at London's ICE Futures exchange rose 1.51 to 62.72 dollars a barrel.

The latest report from the U.S. Energy Department on Wednesday showed crude-oil inventories shrinking by 300,000 barrels last week to 340.8 million barrels. Gasoline inventories declined by 600,000 barrels to 201.1 million barrels while the supply of distillate, which includes heating oil and diesel, fell by 1 million barrels to 132.8 million barrels.

Earlier this week, the forecasters said that northeast United States, the world's largest consumer of heating fuel, would meet below normal temperatures from this weekend through next week. Thecold weather could weaken the distillate stockpiles and boost the fuel prices.