Crude oil prices drop under $78 per barrel

NEW YORK, Jan. 20 (UPI) -- Crude oil prices were under $78 per barrel on the New York Mercantile Exchange Wednesday as milder weather replaced the deep chill, easing pressure on supplies.

Light, sweet crude prices lost 31 cents overnight Wednesday to $77.74 per barrel. Heating oil prices lost 0.0243 cents to $2.0211 per gallon. Reformulated gasoline prices dropped 0.0126 cents to $2.0465 per gallon. Natural gas prices shed 0.061 cents to $5.496 per million British thermal units.

At the pump, the national average price of unleaded gasoline was $2.737 per gallon Wednesday, down from Tuesday's $2.74, AAA said.